AWK finds buyers at key support level

American Water Works Company Inc (AWK) Technical Analysis Report for Sep 14, 2018

Highlights

AWK finds buyers at key support level
AWK runs into sellers again around 89.43
AWK stuck within tight trading range
AWK closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 28% Bearish
Technical Forecast:

Overview

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.

Daily chart for AWK

Volatility

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.

Support/Resistance

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.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

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.

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 Rate 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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AWK pushes through previous session high

Sep 17, 2018
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