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Waste Connections Inc. Message Board

  • WCNX is channeling in a downtrend with the upper channel at approx. $29 which also happens to correspond with the 200 day moving average.

    The price has penetrated the upper channel of the bollinger band (15 bar 18 std dev).

    According to TC2000, the Balance of Power (Accumulation/distribution) has been in heavy distribution for the last 14 days (decreasing for past 21 days) which shows a divergence from the rising price. This makes me feel that the smart money is selling this rise in price.

    The Stoch. (23/5/5) and the (6/2/2) are both reaching the 80% (overbought) level but have not crossed down yet.

    I would call it a long for at max of another point and a great short with low risk at 29 (if it makes it that high before turning back).

    Remember that this stock has very low vol and is subject to manipulation with wide spreads between bid/ask resulting in big spikes in price both ways.

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WCN
48.37+0.83(+1.75%)Oct 21 4:04 PMEDT

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