AOS runs into sellers again around 59.74

A.O. Smith Corp (AOS) Technical Analysis Report for Sep 14, 2018

Highlights

AOS pushes through key resistance level
AOS closes higher for the 3rd day in a row
AOS runs into sellers again around 59.74
AOS rises to highest close since July 31st
AOS closes within previous day's range

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, AOS finished the week 1.47% higher at 59.36 after gaining $0.29 (0.49%) today. Today's closing price of 59.36 marks the highest close since July 31st. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily chart for AOS

Volatility

Friday's trading range was $0.66 (1.12%), that's slightly below last trading month's daily average range of $0.70. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Support/Resistance

Breaking through the key resistance level at 59.23 today, it is now likely to act as support going forward. After having been unable to move above 59.63 in the previous session, the market ran into sellers again around the same price level today, failing to move higher than 59.74.

Trend

While the stock is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for A.O. Smith Corp

Condition Forecast Direction Win Rate Exit Day Events
4 Consecutive Higher Closes TQ Pro Members Only
High close to previous High TQ Pro Members Only
High close to previous two Highs TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

AOS ends the day indecisive

Sep 17, 2018
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