Waste Management
Comment of the Day

June 23 2014

Commentary by Eoin Treacy

Waste Management

Eoin Treacy's view

In compiling the lists of uranium related instruments for the above item, USEC posed something of a quandary. It is not a miner and the company’s ambition of owning a nuclear reactor contributed to its bankruptcy. As an enricher of uranium and manager of the subsequent waste the share fits more accurately into the waste management sector. This led me look at other waste management companies. 

A number of solid waste companies are benefitting from increased quantities of waste as the US economic recovery gains pace. Additionally, they are benefitting from a greater focus on recycling and a desire to turn waste into energy.  

Republic Services completed a yearlong range three weeks ago and continues to extend its breakout. 

Waste Connections also completed a medium-term range three weeks ago.

Waste Management Inc, has been consolidating for much of the last year but has held a progression of higher reaction lows. 

Clean Harbors posted a failed downside break in March, has returned to test the upper side of an 18-month range and appears to ready to break out. 

US Ecology Corp remains in a steep uptrend and found support two weeks ago in the region of $45. A sustained move below that level would signal mean reversion is underway. 

In the medical waste sector, Stericycle is testing the upper side of a more than yearlong range and a clear downward dynamic would be required to suggest more than temporary resistance in the $120 area.  


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