On Tuesday, Waste Management reached an important technical benchmark, with its Relative Strength (RS) Rating climbing into the 80-plus percentile with an upgrade to 82, an increase from 78 the day before.
IBD's unique rating measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price movement over the trailing 52 weeks holds up against all the other stocks in our database.
Over 100 years of market history reveals that the best stocks often have an RS Rating of above 80 as they begin their biggest climbs.
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Waste Management is within a buy zone after breaking past a 230.39 entry in a cup without handle. The proper buying range is up to 5% above the initial entry. Once a stock moves above that range, it's best to wait for it to set up another buying opportunity.
Earnings growth fell in the most recent report from 20% to -2%. But revenue gains moved higher, from 8% to 13%.
Waste Management earns the No. 3 rank among its peers in the Pollution-Control industry group. Aris Water Solutions is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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