Waste Management (WM) A Diamond in the Rough – Bullish DailyPlay for Friday Feb 1st, 2019
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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