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Waste Services - Being accumulated and consolidated
Started Jul 02 at 8:58 ET (By CountdeMonet)
Symbols: WSII
WSII is being accumulated and should be preparing to head higher. It has been in a period of consolidation for the last 4 years and based on technicals it looks like the time is nigh for it to start to advance. The stop loss is below $6 so the trade is pretty simple. As well the CFO recently bought shares himself so this is a good sign of insider support.
The likely multi-year advance to come should exceed $30/share and probably more.
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guliamo
Jul 04 at 4:48 ET
I like their line of business and love that they are a Canadian company. With a 50% drop in 52 weeks, it sounds reasonable that they might be a target for a takeover - is this your opinion?
Do you have more information on this company? I'm tracking it.
/g
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CountdeMonet
Jul 07 at 10:20 ET
Essentially. Again based on technicals, the stock has been moving from weak hands to strong hands so once within strong hands it is unlikely to be sold for a quick buck but held for longer term gains. Some of that gain may come from a takeover.
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guliamo
Jul 11 at 3:35 ET
As I've mentioned I don't know much about technicals.. but the stock momentum looks good. Any thoughts on how long you expect this run up to continue?
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CountdeMonet
Jul 11 at 8:58 ET
It has been a multi-year consolidation so that would indicate a multi-year advance. However, the next move up should move with more speed. If this market doesn't slam it back down, I would say we should be over $12 by this time next year. Today that looks like a big 'if' though.
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CountdeMonet
Jul 16 at 11:51 ET
Bueller?
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CountdeMonet
Jul 23 at 8:50 ET
Who woulda thunk it...
http://www.marketguru.com/news/waste-services-announces-record-second-quarter/1008,12188772
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guliamo
Jul 24 at 7:15 ET
I'm sitting here crying my eyes out - you got this one on the nose!
good job! :)