Waste Management, WM, Bearish
Updated
I am not licensed or certified by any individual or institution to give financial advice. I am not a professional Stock trader.
Waste Management is Bearish. It is in a downtrend. The purple line angling down on the highs is the resistance line I have drawn for the downtrend. I have already purchased a Put (as you may be able to see on my notes on the screen) and am looking at it reaching the 200 Day Exponential Moving Average (EMA), which is sitting at $81.40 as I'm writing this at 1:40pm EST on April 24, 2018. If it goes past the 200 Day EMA, better for me; but if it hits that as support and decides to go either up or sideways I'll probably settle for my profit and see what the Stock decides to do from there. Let me know if you have any questions.
Waste Management is Bearish. It is in a downtrend. The purple line angling down on the highs is the resistance line I have drawn for the downtrend. I have already purchased a Put (as you may be able to see on my notes on the screen) and am looking at it reaching the 200 Day Exponential Moving Average (EMA), which is sitting at $81.40 as I'm writing this at 1:40pm EST on April 24, 2018. If it goes past the 200 Day EMA, better for me; but if it hits that as support and decides to go either up or sideways I'll probably settle for my profit and see what the Stock decides to do from there. Let me know if you have any questions.
Trade closed: target reached
WM did break below the 200 Day EMA. I did sell it for $4.80. I honestly wasn't expecting it to move that fast. I'm not complaining. :)
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