AWK soars 2.18% closing $1.76 higher
American Water Works Company Inc (AWK) Technical Analysis Report for Apr 16, 2018
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.
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.
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.
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.
Trading close to February's high at 83.07 we could see further upside momentum if potential buy stops at the level get activated.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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