The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Waste Management, Inc. shares valued at $859,631 were sold by Watson Michael J. on Jun 06 ’24. At $204.28 per share, Watson Michael J. sold 4,208 shares. The insider’s holdings dropped to 45,644 shares worth approximately $9.71 million following the completion of this transaction.
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Also, Fish James C Jr sold 36,207 shares, netting a total of over 7,401,797 in proceeds. Following the sale of shares at $204.43 each, the insider now holds 198,345 shares.
Before that, Carrasco Rafael had sold 840 shares from its account. In a trade valued at $172,082, the SVP of Enterprise Strategy traded Waste Management, Inc. shares for $204.86 each. Upon closing the transaction, the insider’s holdings decreased to 840 shares, worth approximately $2.99 million.
As published in their initiating research note from Deutsche Bank on May 22, 2024, Waste Management, Inc. [WM] has been a Buy and the price target has been revised to $241. As of February 15, 2024, HSBC Securities has decreased its “Buy” rating to a “Hold” for WM. Earlier on February 14, 2024, UBS downgraded its rating. Their new recommendation was “a Neutral” for WM stock which previously was a “a Buy”.
Analyzing WM Stock Performance
During the last five days, there has been a surge of approximately 2.30%. Over the course of the year, Waste Management, Inc. shares have jumped approximately 18.74%. Shares of the company reached a 52-week high of $214.54 on 03/28/24 and a 52-week low of $176.68 on 01/08/24. A 50-day SMA is recorded $207.67, while a 200-day SMA reached $187.93. Nevertheless, trading volume fell to 1.6 million shares from 1.71 million shares the previous day.
Support And Resistance Levels for Waste Management, Inc. (WM)
According to the 24-hour chart, there is a support level at 211.53, which, if violated, would cause prices to drop to 210.38. In the upper region, resistance lies at 213.49. The next price resistance is at 214.30. RSI (Relative Strength Index) is 63.19 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.55, which suggests the price will increase in the coming days. Percent R is at 7.88%, indicating bullish price movement. Stochastics%K at selling indicates that the stock is to be held.
