No matter the outcome after earnings, this is one that should be added if you are looking for a less volatile but rewarding and necessary service. With four quarters beaten in a row, is it needed to be cautious? Slow growing yet less volatility is also good in the long term, if price were to pullback an entry long would be great if one were to hold this for long...
The PEAD projected a Bullish outlook for $WCN after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 60%.
Based on price action and risk/reward, this trade setup is a decent trade IMO if short orders are scattered across the red zone. Distance to first PT is exactly three times the distance to the stop. It's possible that the stop gets hit with a wick, but worth the R/R.
Probable increase in the short term and certainly a decrease in the long term if there is formation of a head and shoulders and a crossing of the zone of 148.72 dollars (CAD).
But I would lean more on a drop after a head and shoulders because of the RSI which is running out of steam.
The PEAD projected a Bullish outlook for $WCN after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 50%.
Head and Shoulders extra setup to add! Looking for entry below 126.23, Target 1: 118.56, Target 2: Momentum, Stop signal 130.23, Earnings estimated for February 16th. Insiders selling in November 2021. Could consider June $130 Puts.
Hey traders, WASTE CONNECTIONS is in a bullish momentum, bullish continuation possibility of coming in the highest precedent can be fall if the sellers push the prices.
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There has been a lot of talk about Waste companies over the last little while, namely: Waste Connections, Waste Management and Republic Services (the 3 majors for Canada/USA respectively).
While a low beta is certainly attractive as we continue to push this market further up and up, it is important to note that in corrections and recessions, waste companies still...
WCN seems to be trending lower and lower,
Target is $85.
$133 max loss and $3.67 max gain.
Spread is 5 points 90/85 EXP October 18th
My only problem with this trade is the duration of it even though its 45 days I believe the move may take less time to happen.
Profit target is $183.5 max loss is $80
Possible loss if bullish is if the bottom holds and support...
I am a bit optimistic abut WCN. I like the long term stability over many years.
I believe this recent fall is only temporary, should hold off until the price makes new resistance at $122.30 before determining that this is going to be a mid term short.
Howdy Yall!
This is another entry getting ready to put together my longer article on Waste Management equities! I'll be using these (last few) ideas in conjunction with a longer write-up on this basket of equities. The purpose its to create a few baskets which are solid during an economic downtrend.
