Million

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>WM stock price has surpassed the significant moving averages.</a></li>
 <li><span>2</span> <a>Buyers have gained momentum and have broken out of a channel.</a></li>
</ul>
<p>Waste Management Inc. (NYSE: WM) WM stock showed the falling channel breakout and has surpassed the trendline barrier of $155. Q3 earnings result created fresh buying interest. Follow-on buying did not come after the breakout candles which did not give a strong conviction that breakout will sustain or not for the next sessions. Buyers must exceed the gains beyond the immediate barrier of $140 to attain bullishness.</p>
<p>WM stock price is trading above the barrier of $160 above the 200 day EMA. The Q3 results were close to the estimates, the net income increased by 3.76% (YoY) to $663.00 Million and the total revenues slipped by 1.45% (QoQ) to $5.20 Billion. However, the stock is below the supply zone of $170, which was a strong barrier. If WM stock crosses the $170 hurdle, a multi year breakout is imminent, and a sharp rally would lead to $185 followed by $200.</p>
<p>At press time, WM stock price was $161.38 with an intraday drop of 0.88%, showing neutrality on the charts. Moreover, the trading volume increased by 0.22% to 1.80 Million and the market cap is $65 Billion. Analysts have maintained a buy rating with a yearly target price of $181.54 suggesting a growth outlook.</p>
<p>Waste Management, Inc. is a holding company, which engages in the provision of waste management environmental services. It operates through the following segments: East Tier, West Tier, and Other. The East Tier segment consists of Eastern U.S., the Great Lakes Region, and Canada. The West Tier segment includes the upper Midwest region and British Columbia, Canada. The Other segment covers segments which are not evaluated and overseen through the East and West Tiers. The company was founded on September 30, 1987 and is headquartered in Houston, TX.</p>
<h2 class="wp-block-heading" id="strong-will-wm-stock-extend-breakout-to-170-strong"><strong>Will WM Stock Extend Breakout to $170?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/7bW9mqONbQQ1RDtw167UI6MuhHhPqWbPSWOnMjyoKZY0AN4VkD4b4r3EphKn0psKhlA0J6fMVGeBaETtIXgi69kuoGNx8LQZEsdhzRRCunZofPqGEO3zfWYe1Ne6jSDKBDuuKe4Wzhssju865TVJQUA" alt="WM Stock Surpassed Trendline of $155, Will Breakout Sustain?">
  <figcaption class="wp-element-caption"><a href="https://www.tradingview.com/chart/vVtQEsVt/?symbol=NYSE%3AWM" rel="noopener noreferrer nofollow">WM Stock Price Chart by TradingView</a>
  </figcaption>
 </figure>
</div>
<p>On the daily charts, <a href="https://www.thecoinrepublic.com/2023/09/28/wm-stock-forecast-will-the-stock-nyse-wm-price-descend-soon/" rel="noopener noreferrer nofollow">WM stock price</a> surpassed the 200 day EMA and attained buying momentum. Furthermore, the price broke out of the channel and is heading to the supply zone of $170. Moreover, the option chain shows that, at the strike price of $160, open interest 154 hundred shares on the put side, whereas 47 hundred shares on the call side (Data from the Nasdaq.com). The option chain indicates fresh long buildup and suggests that buying action will continue and WM stock will retest the neckline of $170.</p>
<p>The RSI curve is in the overbought zone and formed a bullish divergence suggesting the bulls dominance on the charts. The MACD shows a bullish crossover and green bars on the histogram suggesting a positive outlook.</p>
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4>
<p>WM stock price is above the significant moving averages and broke out beyond the trendline barrier of $155. Furthermore, the chart delivers fresh buying interest due to the Q3 earnings impact while buyers have started making fresh long positions and started accumulating the stock.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $155 and $150</p>
<p>Resistance Levels: $165 and $170</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

WM Stock Surpassed Trendline of $155, Will Breakout Sustain?

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Thecoinrepublic.com

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