Clean Harbors should undergo some profit-taking after the rebound in recent sessions.
The valuation of the company is not attractive with a P/E ratio of 30x in 2015. Moreover, analysts covering the stock are downgrading severly their EPS estimates.
Graphically, the stock went through a period of rebound in recent sessions towards the USD 57.2 medium-term resistance. The share should consolidate near this area. It could act as a stopping point of the upward movement. This scenario suggests a return towards the USD 51.9 support area which will be the bearish objective.
Therefore, the most aggressive investors could take a short position on the stock and target USD 51.9. A stop loss will be placed above the current resistance.
Clean Harbors, Inc. is a provider of sustainable environmental and industrial services throughout North America. The Company provides parts cleaning and related environmental services to general manufacturing, automotive and commercial customers in North America and re-refiner and recycler of used oil in North America. The Companyâs Environmental Services segment collects, transports, treats and disposes hazardous and non-hazardous waste, including resource recovery, physical treatment, fuel blending, incineration, landfill disposal, wastewater treatment, lab chemical disposal, explosives management and CleanPack services. It also offers emergency response services. Its Safety-Kleen Sustainability Solutions (SKSS) segment offers recycled base and blended oil products and other automotive and industrial lubricants to end users including distributors and manufacturers of oil products and industrial plants. It collects used oil which serves as feedstock for its eight oil re-refineries.
CLEAN HARBORS, INC. 
