The bullish DailyPlay we chose for Friday, Feb 1st is Waste Management (WM). WM is part of the Industrial Sector (XLI). Over the last month, XLI has experienced an 11.34% move higher and its 1m and 6m trend have turned bullish and neutral on 1/17 while breaking above its $68 resistance level.
Waste Management’s 1m and 6m trends turned bullish on 1/4 and recently broke above its $94 resistance level which now becomes support. With a technical score of 8 (out of 10), WM is a strong stock that is likely to continue higher.
As a stop loss, if WM was to trade below $94 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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