This is just a short note, but I was surprised to see WM near these levels. Other consumer defensive stocks have lately been reasonably strong, and through 2022 WM was one of the most resilient stocks.
The fact that it is still around these levels is sort of concerning. The market is busy going up. This is supposed to be a quality name, but instead it has sort of faded down into lower zones. Perhaps a break lower is eminent?
I like WM's core business over the long term - it is very consistent - but I would be reluctant to get in here without further clarity.
The fact that it is still around these levels is sort of concerning. The market is busy going up. This is supposed to be a quality name, but instead it has sort of faded down into lower zones. Perhaps a break lower is eminent?
I like WM's core business over the long term - it is very consistent - but I would be reluctant to get in here without further clarity.