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Waste Management (WM) Pushes to Historic High

Waste Management (WM) is often known as a dividend play, but has also been achieving capital gains. The monthly chart shows the steady rise since 2000 that has picked up steam in recent years.

Waste Management (WM) Monthly Chart

(click to enlarge)

July Push:
- As we can see on the monthly chart, price has been stalling for several months.
- The July candlestick however is bullish, signaling bullish continuation.
Bullish Breakout:
- In the previous update, we noted that WM's price structure of the recent multi-month consolidation signals a subsequent bullish breakout.
- In fact, price is breaking out of the consolidation structure as we can see on the daily chart.
- Now, the 73-74 area should provide support if WM pullsback.
- A break below 72 might signal futher consolidation and stall the bullish outlook.

WM Daily Chart

(click to enlarge)