Technical outlook – Traders/investors scan many fields of technical indicators to assess potential trades for profitable returns.
This year, in early January, Cleanaway Waste Management Limited (CWY) staged an active attempt at $2.20 and failed.
At present, it is unlikely that this share will inspire any bullish activity due to the $2.20 rejection.
Looking ahead, we feel there are better levels (opportunities) in entering this share.
As we complete our analysis, we expect traders/investors will likely opt-in to lower levels from $1.80-82, with the potential retracement (rebound) to follow.
Company Overview – Cleanaway Waste Management Limited (CWY) is a provider of waste management services in Australia, with operations in both solid and liquid waste.
The Group comprises three operating segments being Solid Waste Services, Liquid Waste and Industrial Services, and Toxfree. Former Names: Transpacific Industries Group Ltd (TPI), 29/01/2016.