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Republic Services (RSG) Breaks Through Resistance at $32.85

Published on Tue, 04/02/2013 - 09:51
By Peter Chu

Shares of Republic Services (NYSE:RSG) opened today above their pivot of $32.62 and have already reached the first level of resistance at $32.85. Should the shares continue to rise, the resistance pivots of $33.22 and $33.83 will be of interest.

Republic Services share prices have moved between a 52-week high of $33.01 and a 52-week low of $25.15 and are now trading 31% above that low price at $32.93 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

Republic Services, Inc. provides non-hazardous solid waste collection and disposal services in the United States. The Company provides solid waste collection services for commercial, industrial, municipal, and residential customers. Republic also operates transfer stations, landfills, and recycling facilities.

Republic Services (NYSE:RSG) has potential upside of 1.2% based on a current price of $32.93 and analysts' consensus price target of $33.33. The stock should find initial support at its 50-day moving average (MA) of $31.54 and further support at its 200-day MA of $28.83.

By Peter Chu
pchu@fnno.com