WMI - Waste Management $28.59 +0.08 (+0.79)
Thursday's Comment:
WMI eked out a small gain on Thursday and remains on its breakout
track. Shares of WMI continued on their recently revived uptrend
and found good support along the way at the 5-dma at $28.22.
With today's advance, WMI's MACD was just able to issue a buy
signal. Volume was light on Thursday, with just 1.5 million
shares changing hands. WMI's three-month average daily volume is
2.1 million shares. We will be watching to see whether the stock
can take out mild resistance at $29 in the near future.
Meanwhile, traders might consider initiating new positions in WMI
if the stock can break above Wednesday's opening price of $28.80
on volume that puts WMI on pace to do 2.5 million shares for the
day. Our stops remain just under the previous base at $26.90.
Picked on June 6th @ $28.51
Change since picked +0.08
Stop Loss @ $26.90
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