One Man’s Trash…

We have all heard the saying one man’s trash is another man’s treasure. When it comes to literal garbage stocks — Waste Management (WM) and Republics Services (RSG) — that saying is more than applicable today. After trading in strong uptrends this year through August, both WM and RSG have had a rough September with month-to-date declines of 4.9% and 3.5%, respectively. The strong performance YTD and big drops this month puts these stocks in good company with the rest of the momentum world. Recent declines brought both stocks to the bottom of their trading ranges as each closed yesterday in extremely oversold territory (over 2 standard deviations below their 50-DMAs). Given the strong long-term uptrends and this pullback, RSG and WM earned perfect timing scores in our Trend Analyzer tool. Today, those declines have ceased as the stocks found support at prior lows that were first established in the spring.  

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(Click on image to enlarge)

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