First of all fundamentally the company is basically essential to our survival so I have no reason to believe they will go out of business any time soon. Earnings report soon should bring about some volatility. I was foolish enough to buy the top a couple months ago and deciding today I will add the the position because I like this price. Even though I bought the top, it was still below the intrinsic value at the time so it was a reasonable decision.
With my simple trendline and rudimentary use of a Fibonacci I am able to set a price target of $260 depicted by my drawing of a potential new leg up. This is backed up by the absolutely fundamental usage of a calculation of the intrinsic value, which by my calculation is $280, and has a range between $170-$640 however these numbers may need to be adjusted after the earnings report. The value is now well below the intrinsic value so I am seeing this stock as a really good deal now.
Despite any uncertainty in the economy Waste Management has seemed to outperform during these times so it is in my portfolio defensively. This stock is strong when it needs to be, which is why I like it.
With my simple trendline and rudimentary use of a Fibonacci I am able to set a price target of $260 depicted by my drawing of a potential new leg up. This is backed up by the absolutely fundamental usage of a calculation of the intrinsic value, which by my calculation is $280, and has a range between $170-$640 however these numbers may need to be adjusted after the earnings report. The value is now well below the intrinsic value so I am seeing this stock as a really good deal now.
Despite any uncertainty in the economy Waste Management has seemed to outperform during these times so it is in my portfolio defensively. This stock is strong when it needs to be, which is why I like it.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.