RY 159.01 -1.1808% SHOP 111.96 -3.5077% TD 83.98 0.0% ENB 62.07 -1.1939% BN 65.98 -4.1128% TRI 247.94 -1.5642% CNQ 39.39 -1.2287% CP 100.94 -2.152% CNR 136.5 -0.5899% BMO 127.33 -1.5388% BNS 65.33 -0.548% CSU 4587.2002 -2.0361% CM 80.55 -1.2868% MFC 39.05 -1.5132% ATD 71.585 0.3997% NGT 76.26 0.0525% TRP 66.79 -2.4394% SU 47.74 -0.1255% WCN 267.81 -2.0303% L 213.61 -0.0328%
Cleanaway Waste Management Ltd (ASX: CWY)
Cleanaway Waste Management Ltd (ASX: CWY) is an environmental service, industrial, and total waste management company based in Australia. ‘Cleanaway Waste Management Limited (CWY) is a part of Global Green Energy Report'.
Recommendation Rationale – SELL at AUD 2.84
CWY’s Daily Price Chart
(Source: REFINITIV; Analysis by Kalkine Group)
Valuation Methodology: Price/Earnings Approach
CWY is expected to trade at a slight discount of 1%, owing its lower net margins, lower liquidity relative to industry’s median and mounting sequential credit risk exposure. For conducting the valuation, the following peers have been considered; Delorean Corporation (ASX: DEL), Papyrus Australia (ASX: PPY), Range International (ASX: RAN), and Eden Innovations (ASX: EDE).
Given its current trading levels, recent rally in the share price, relative valuation, and risks associated, it is prudent to book profit at the current levels. Hence, a ‘Sell’ recommendation is given on the stock at the closing market price of AUD 2.84, as of 17 July 2024.
Markets are trading in a highly volatile zone currently due to certain macro-economic issues and geopolitical issues prevailing geopolitical tensions. Therefore, it is prudent to follow a cautious approach while investing.
Note 1: Past performance is neither an indicator nor a guarantee of future performance.
Note 2: The reference date for all price data, currency, technical indicators, support, and resistance levels is 17 July 2024. The reference data in this report has been partly sourced from REFINITIV.
Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.
Technical Indicators Defined: -
Support: A level at which the stock prices tend to find support if they are falling, and downtrend may take a pause backed by demand or buying interest.
Resistance: A level at which the stock prices tend to find resistance when they are rising, and uptrend may take a pause due to profit booking or selling interest.
Stop-loss: In general, it is a level to protect further losses in case of any unfavourable movement in the stock prices.
The advice given by Kalkine Canada Advisory Services Inc. and provided on this website is general information only and it does not take into account your investment objectives, financial situation and the particular needs of any particular person. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. The website www.kalkine.ca is published by Kalkine Canada Advisory Services Inc. The link to our Terms & Conditions has been provided please go through them. On the date of publishing this report (mentioned on the website), employees and/or associates of Kalkine do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations later.
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