Chart of the Day: On a Roll — And AI Has Nothing to Do With It
The stock has been in a solid uptrend.
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Waste Management (WM) is right near the interim highs set in September, although all-time highs were made back in May. With a series of higher highs, higher lows WM is in a firm uptrend. The stock has managed to rally smartly on good volume trends and some heavy bullish money flow (as seen from the Chaikin money flow box on the bottom).
Surprisingly, WM has not been moving on AI or due to precious metals. Imagine that! The company is poised for strong growth and with the wild winter we are having around the country the trash needs to be hauled in at some point.
On January 28 we trimmed some Waste Management for the Pro Portfolio in a prudent move. The candles in the top chart are blue or teal, representing bullishness in the price chart. MACD (moving average convergence divergence) is strongly on a buy signal and momentum is overbought, but that is not a sell signal.
We like Waste Management in TheStreet Pro Portfolio and rate it a One, or "buy now."
At the time of publication, TheStreet Pro Portfolio was long WM.
