In trading on Thursday, shares of Waste Management, Inc. (NYSE: WM) entered into overbought territory, changing hands as high as $ 33.80 per share. We define overbought territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be overbought if the RSI reading rises above 70.
In the case of Waste Management, Inc. , the RSI reading has hit 70.7 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 62.4.
Investors could look at WM’s 70.7 reading as a sign that the recent heavy buying is in the process of winding down, which could bring a pullback in the stock. The chart below shows the one year performance of WM shares:
Looking at the chart above, WM’s low point in its 52 week range is $ 27.75 per share, with $ 39.69 as the 52 week high point — that compares with a last trade of $ 33.74.
Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on WM is its dividend history.
In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
|WM Dividend History|
|* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.|
WM operates in the Waste Management sector, among companies like ABM Industries, Inc. (NYSE: ABM) which is up about 0.4% today, and Progressive Waste Solutions Ltd. (NYSE: BIN) trading higher by about 1.2%. Below is a three month price history chart comparing the stock performance of WM, versus ABM and BIN.
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