AWK finds buyers at key support level
American Water Works Company Inc (AWK) Technical Analysis Report for Sep 14, 2018
AWK finished the week 1.16% higher at 89.24 after edging lower $0.04 (-0.04%) today on high volume. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Friday's trading range was $0.72 (0.81%), that's far below last trading month's daily average range of $1.03. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average. Prices continued to consolidate within a tight trading range between 88.33 and 89.43 which it has been in now for the last three days.
After trading as low as 88.71 during the day, the stock bounced off the key support level at 88.72. The failure to close below the support might increase that levels importance as support going forward. Prices are trading close to the key resistance level at 89.78. After having been unable to move above 89.34 in the prior session, the share ran into sellers again around the same price level today, failing to move higher than 89.43.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying could speed up should prices move above the nearby swing high at 89.78 where further buy stops might get activated. Selling could accelerate should prices move below the close-by swing low at 88.33 where further sell stops might get triggered. Further buying could move prices higher should the market test August's nearby high at 89.96.
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||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|Closed above last periods high||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close to R1 Resistance||TQ Pro Members Only|
|RSI(2) above 80||TQ Pro Members Only|
|Bearish Spinning Top||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
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