WM in bullish mode

Since early January, WM – Waste Management, Inc. – has been trading mostly above its 20-day exponential moving average, which it crossed only four times, see the blue circles in the chart.

What is more, the 10- 20- and 50-day exponential moving averages are all sloping up in a strong and healthy uptrend. In fact, most of the time, WM moves between its 10-day exponential moving average and the upper Bollinger Band.

In the last time the stock touched its 20-day exponential moving average, the bulls reacted immediately and with two bullish candlesticks, sent price up again and above the local resistance line – the orange line – at about 107.5.

Throughout this period of time MACD is of course in positive territory. As momentum is more “mature” lately, MACD moves mostly horizontally and along its signal line.

Finally, the stock’s Relative Strength is currently moving up and above its 20-day exponential moving average, as WM outperforms SPY, which is our benchmark.