Chart of the Day: One Person's 'Trash' Is Another Person's Treasure
In the case of this stock, the bulls retain control of the trend.
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A moderate pullback late in 2024 for Waste Management WM was a nice setup to add buyers on the dip. A 15% pullback to good long-term support (back to September 2024 levels) was enough to get dip buyers off the sidelines. From the start of 2025 this Pro Portfolio holding has been on the move, and is now up 10% for the year and about to break through to new all-time highs.
The indicators are all bullish with an overbought MACD (moving average convergence/divergence) that has been on a buy signal since January 2. Stochastics (Pane 4) and money flow (Pane 5) have my interest here as momentum is strong along with volume trends and persistent money flow to the positive. There is no question with these indicators that big money is pushing this stock higher.
A nice series of higher highs, higher lows in the top pane is our textbook definition of an uptrend. Notice the trendline is now resistance as that lines up with the old highs around $232 or so. We should see a run to that level before Waste Management cools off a bit. Make no mistake, this is a very strong chart and should be added on any weakness.
At the time of publication, TheStreet Pro Portfolio was long WM.
