Waste Management stock saw a positive improvement to its Relative Strength (RS) Rating on Monday, with an upgrade from 88 to 91.
As you try to find the best stocks to buy and watch, keep a close on eye on relative price strength. IBD's proprietary rating identifies share price movement with a 1 (worst) to 99 (best) score. The grade shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the stocks that go on to make the biggest gains often have an RS Rating north of 80 in the early stages of their moves.
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Is Waste Management Stock A Buy?
Waste Management stock broke out earlier, but is now around 5% below the prior 168.14 entry from a consolidation. 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. In this current bear market, it's best to wait for the market to rebound. Wait for the stock to set up and breakout from a new base and buy point. Also keep in mind that the latest consolidation is a later-stage base, and those involve more risk.
While sales growth fell last quarter from 15% to 13%, earnings-per-share grew 22%, up from 12% in the prior report.
Waste Management stock earns the No. 6 rank among its peers in the Pollution-Control industry group. Clean Harbors, Perma Pipe International and Evoqua Water Tech are among the top 5 highly rated stocks within the group.
