When the Price of Waste Connections WCN Talks, People Listen

September 30, 2022, 07:30 am ET, BY Thomas Y.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Waste Connections (NYSE: WCN) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for WCN can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports. 

Longer Term Trading Plans for WCN

• Buy WCN slightly over 133.15 target 142.98 stop loss @ 132.77 Details

The technical summary data tells us to buy WCN near 133.15 with an upside target of 142.98. This data also tells us to set a stop loss @ 132.77 to protect against excessive loss in case the stock begins to move against the trade. 133.15 is the first level of support below 137.03 , and by rule, any test of support is a buy signal. In this case, support 133.15 is being tested, a buy signal would exist.

• Short WCN slightly under 142.98, target 133.15, stop loss @ 143.39 Details

The technical summary data is suggesting a short of WCN as it gets near 142.98 with a downside target of 133.15. We should have a stop loss in place at 143.39though. 142.98 is the first level of resistance above 137.03, and by rule, any test of resistance is a short signal. In this case, if resistance 142.98 is being tested, a short signal would exist.

Swing Trading Plans for WCN

• Buy WCN slightly over 138.30, target 142.98, Stop Loss @ 137.9 Details

If 138.30 begins to break higher, the technical summary data tells us to buy WCN just slightly over 138.30, with an upside target of 142.98. The data also tells us to set a stop loss @ 137.9 in case the stock turns against the trade. 138.30 is the first level of resistance above 137.03, and by rule, any break above resistance is a buy signal. In this case, 138.30, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WCN slightly near 138.30, target 135.86, Stop Loss @ 138.7. Details

The technical summary data is suggesting a short of WCN if it tests 138.30 with a downside target of 135.86. We should have a stop loss in place at 138.7 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 138.30, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for WCN

• Buy WCN slightly over 137.69, target 138.30, Stop Loss @ 137.37 Details

If 137.69 begins to break higher, the technical summary data tells us to buy WCN just slightly over 137.69, with an upside target of 138.30. The data also tells us to set a stop loss @ 137.37 in case the stock turns against the trade. 137.69 is the first level of resistance above 137.03, and by rule, any break above resistance is a buy signal. In this case, 137.69, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short WCN slightly near 137.69, target 135.86, Stop Loss @ 138.01. Details

The technical summary data is suggesting a short of WCN if it tests 137.69 with a downside target of 135.86. We should have a stop loss in place at 138.01 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 137.69, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

WCN Ratings for September 30:

Term →	Near	Mid	Long
Rating	Weak	Neutral	Neutral
P1	0	0	122.82
P2	135.51	135.86	133.15
P3	137.69	138.30	142.98

Support and Resistance Plot Chart for WCN

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