AWK breaks below 20-day moving average


American Water Works Company Inc (AWK) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
AWK breaks below 20-day moving average
AWK closes below its opening price unable to hold early session gains
AWK ends the day on a bearish note closing near the low of the day
AWK finds buyers again around 87.63
AWK falls to lowest close since August 2nd
TQ Sentiment
Report Sentiment: 37% Bearish
Technical Forecast:
Overview

AWK ended the week -0.47% lower at 87.64 after losing $0.58 (-0.66%) today on low volume. Today's closing price of 87.64 marks the lowest close since August 2nd. Trading $0.49 higher after the open, the market was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for AWK
Volatility

Friday's trading range was $1.16 (1.31%), that's slightly above last trading month's daily average range of $1.11. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average.

Support/Resistance

Prices are trading close to a key support level at 87.52. After having been unable to move lower than 87.47 in the previous session, the share found buyers again around the same price level today at 87.63.

Trend

Though the stock is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive. American Water broke below the 20-day moving average at 87.82 today for the first time since August 1st.

Order Flow

Selling could accelerate should prices move below the close-by swing low at 87.47 where further sell stops might get activated. Further buying could move prices higher should the market test July's nearby high at 88.95.

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 American Water Works Company Inc
Condition Forecast Direction Win Avg Worst Best Events
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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