Review:
The share, which I analyzed in an article from 2 weeks ago, does not seem to be as bullish in the short term as I mentioned. For the first time, the price actually rose to over $155.00 on July 1, but fell back to $149.30 on the following days. Thus, the price shows difficulties to overcome the 50-day moving average in the daily chart.
Current:
For the past few days, the company has been affected by employee strikes at some California locations. These could lead to disruption of waste transportation, affecting thousands of residents and businesses in these regions.
However, there is also good news for the company: On 27.07. the company plans to publish its 2nd quarter results. In doing so, EPS of $1.41 and revenue of $4.842 billion are currently expected, which would represent a 9% increase in EPS and a 4% increase in revenue compared to Q1 of this year.
From a chart perspective, I currently expect a short-term price decline towards $140.00, where an important support is located. Otherwise, in my opinion, one should wait for a break of the downtrend at $154.00 and a related overcoming of the 50-day moving average for a long entry.
