Waste Management saw a positive improvement to its Relative Strength (RS) Rating on Monday, rising from 80 to 83.
IBD's proprietary RS Rating tracks market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price performance over the trailing 52 weeks matches up against that of all other stocks.
Decades of market research shows that the top-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.
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Waste Management broke out earlier, but has fallen back below the prior 230.39 entry from a cup without handle. If a stock you're tracking clears a buy point then declines 7% or more below the original entry price, it's considered a failed base. It's best to wait for the stock to form a new pattern and breakout. Also keep in mind that the most recent consolidation is a later-stage base, and those involve more risk.
Earnings-per-share growth fell in the company's most recent report from 20% to -2%, but sales rose from 8% to 13%.
Waste Management earns the No. 4 rank among its peers in the Pollution-Control industry group. Aris Water Solutions is the top-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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