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Republic Services (RSG) Breaks Through Support at $32.46

Published on Wed, 03/27/2013 - 12:41
By Mallory Stone

Shares of Republic Services (NYSE:RSG) opened today below their pivot of $32.66 and have already reached the first level of support at $32.46. Should the shares continue to fall, the support pivots of $32.34 and $32.02 will be of interest.

Republic Services has overhead space with shares priced $32.40, or 2.8% below the average consensus analyst price target of $33.33. The stock should discover initial support at its 50-day moving average (MA) of $31.40 and subsequent support at its 200-day MA of $28.73.

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.

In the past 52 weeks, shares of Republic Services have traded between a low of $25.15 and a high of $32.90 and are now at $32.40, which is 29% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.5%.

By Mallory Stone