Although not a 'sexy' and popular tech company Waste Management has enjoyed an exponential growth for the past decade. Is it time for this bubble to burst?
Fundamental indicators:
Revenue and Profits - demonstrated consistent long-term earnings growth over the past 10 years (124.63%)
Profit margin - not impressive but decent 10.30%
P/E - quite overpriced at 36x considering this is not a growth company
Liabilities - no problems there
Technically:
Although the share has enjoyed good growth since March 2020 fall, another considerable drop in 2022 has completed a lengthy and running correction of Wave 4
Since then there was an Ending Diagonal developing and only last wave C of 5 left
After slightly updating the high it is possible for the price to go into long term correction with a considerable drop in the first wave
The target is likely to be the range between $85-$105 which represent 0.5 and 0.382 Fibonacci retracements respectively
What do you think about this scenario?
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