AWK soars 2.18% closing $1.76 higher


American Water Works Company Inc (AWK) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
AWK rallies 2.18% closing $1.76 higher
AWK finds buyers at key support level
AWK pushes through 20-day moving average
AWK fails to close above 200-day moving average
AWK closes higher for the 2nd day in a row
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, AWK finished Monday at 82.62 surging $1.76 (2.18%). This is the biggest single day gain in over a month. Today's closing price of 82.62 marks the highest close since January 31st. Closing above Friday's high at 81.58, American Water confirms its breakout through the prior session's high having traded $1.42 above it intraday.

Daily chart for AWK
Volatility

Monday's trading range was $1.15 (1.4%), that's slightly below last trading month's daily average range of $1.38. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 81.85 during the day, the share bounced off the key support level at 81.94. 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 83.07. After spiking up to 83.00 during the day, the stock found resistance at the 200-day moving average at 82.93.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The market managed to break above the 20-day moving average at 81.23 today for the first time since March 27th.

Order Flow

Trading close to February's high at 83.07 we could see further upside momentum if potential buy stops at the level get activated.

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
ConditionForecastDirectionWinAvgWorstBestEvents
Bearish Harami Candle TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Hanging Man TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous three Lows TQ Pro Members Only
More market conditions identified for TQ Pro members...
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