Republic Services Inc. (RSG) has been been in an uptrend since late December, and it looks like it can march still higher. Let's check out the latest charts and indicators.
In this daily bar chart of RSG, below, we can see that prices held the $68 level in July and October with a higher pullback in late December. The rally proceeded nicely with a correction in April.
Prices are above the rising 50-day moving average line, and the rising 200-day moving average line. The On-Balance-Volume (OBV) line shows a moderate rise from early January and a mostly flat move the past two months. The trend-following Moving Average Convergence Divergence (MACD) oscillator has been in a take-profits mode since late May.
In this weekly bar chart of RSG, below, we can see a nice and steady rise from late 2016 from around $50. The rising 40-week moving average line has been a great indicator to follow. The weekly OBV line shows a positive trend the past three years and the MACD oscillator has been above the zero line the entire time. The MACD oscillator has narrowed a little in recent weeks, but is has not yet crossed to the downside for a take-profits sell signal.
In this Point and Figure chart of RSG, below, we can see an upside price target of $95.
Bottom line strategy: Continue to hold longs and risk a close below $83. New longs could be considered with a stop below $83 looking for gains to the $95 area.