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Analysis: #NYSE $WM

Case 385 #Waste_Management Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#WM 1/4
Chart 1
Monthly Chart: Since reaching a new all time high of 126.79 price fell heavily, smashing through 2016 #trendline support, eventually finding #support at the #confluence of the #Fib. 0.382, pivot and .....

WM 2/4
..... #SMA 50 (88.96-86.26). A good bounce ensued but failure to close above 112.21 #pivot resistance is problematic. Synthetic #resistance sloping at 130.88.

WM 3/4
Chart 2
Daily Chart: Mild trendline resistance from Feb. 2020 with flattening #momentum, the most reliable support 96.70.

The #Strategy is printed on the image.

$WM 4/4
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#NYSE #Waste_Management #WM #trendline #support #confluence #Fib #SMA #pivot #resistance #momentum #Strategy

More from @malteseinvest see all

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malteseinvestor
@malteseinvest
Analysis: #NASDAQ $OPK

Case 389 #OPKO_Health Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#OPK 1/4
Chart 1
Monthly Chart: Support at the 2004 #trendline and #Fib. 0.942 at 1.31 has been building since Oct. 2019. Strong momentum has seen the close above 2017 trendline and the #SMA 50 reclaimed (after 4 years). Price needs to .....

OPK 2/4
..... close above 3 year pivot at 6.14 then break above 2014 #pivot at 7.93. Strong #resistance at 10.94, a close above targets 13.76-16.07.

OPK 3/4
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malteseinvestor
@malteseinvest
Analysis: #NASDAQ $LLNW

Case 388 #Limelight Networks, Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#LLNW 1/4
Chart 1
Monthly Chart: Mar. 2020 saw price close and hold above 2010 #trendline resistance, this was followed by a strong upward move but failing to take out 2007 pivot #resistance at 8.23. Further up the formidable 12.77 .....

LLNW 2/4
..... #pivot - a close above targets 17.00. To the downside the SMAs 20 and 50 sandwiching the 2015 swinging pivot at 3.77, below that strong 2016 trendline #support at 2.66.

LLNW 3/4
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malteseinvestor
@malteseinvest
Analysis: #NASDAQ $DKNG

Case 387 #DraftKings Inc.

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

#DKNG 1/4
Chart 1
Weekly Chart: The #parabolic move seen in Apr. 2020, as expected, saw a correction down to the #Fib 0.50 (27.70) - a 2 week close below sees price fall down into strong #support 20.50 - 16.80 (Fib. 0.786, #pivot and .....

DKNG 2/4
..... #SMA 50). A close above 42.00 is required to target 54.22 and further above 61.93.

DKNG 3/4
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