WM an enticing buy

All right, folks, today we’re gonna take a look at Waste Management a stock that is up 1.77%, or two and a half dollars in the wake of the s&p being down 55 points as of this recording. So I found this set up based off one of my scanners. And it looks enticing for a potential long. So you can see, we’ve recently met 123 Top objectives over here on the weekly trading down from 157 down to 147. And then down here into the 140 area. So this market has come down nicely into the longer term area of structure here support structure here into this 140 area. You’ll also notice that is essentially a 50% retracement from this swing high to this swing low. So we do like to see that 50% retracement or a mean reversion and then look for the market to resume its trend which is up as indicated by the series of higher highs, higher lows. Now going over here to the daily, you could see that we are now getting a one to three bottom here into this area of structure. And we are just hovering right around the 200 day. So I’m looking for a close below above the number two area here at 145 50. Looks like we will get that today we have a small hurdle to get above here that 200 day moving average, but would expect the market to retrace back to this area at around 145 75. And then we’ll look to take it up to next target of around 152 Quarter, I’ll be looking to get long ways management via bull put credit spreads. So we’ll sell credit spreads down here beneath support. One last thing I want to do is take a look at the seasonality for components and we have very high probability seasonality. This trade has been positive coming into March, about 81% of the time over 27 years of data. So you can see lots of good data almost 30 years with an average gain of about 2% or about $21 per share. So we’ve got bullish seasonality backing this technical setup, that those are the kinds of ingredients we like to put together to help confirm our trade. Now I’ve been invited to speak at the upcoming April wealth 365 event. This event gets bigger and bigger. There’s over 60 plus speakers events the first week of April, April 4 through ninth. We see the timer here 33 days, 15 hours and 40 minutes as of this recording. I’m going to go ahead and hyperlink you to this page. All you got to do is put in your name and email address. They’re giving out tons of freebies. Lots of quality education, go ahead and register down lock in your seat and I look forward to seeing you there.