XYL finds buyers at key support level

Xylem Inc. (XYL) Technical Analysis Report for Sep 14, 2018

Highlights

XYL closes above its opening price after recovering from early selling pressure
XYL finds buyers at key support level
XYL closes higher for the 3rd day in a row
XYL runs into sellers again around 81.18
XYL rises to highest close since Inception

TQ Sentiment

Report Sentiment: 22% Bullish
Technical Forecast:

Overview

Moving higher for the 3rd day in a row, XYL finished the week 2.87% higher at 80.93 after gaining $0.15 (0.19%) today. Today's closing price of 80.93 marks the highest close since Inception. Trading up to $0.27 lower after the open, the stock managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for XYL

Volatility

Friday's trading range was $0.72 (0.89%), that's below last trading month's daily average range of $1.09. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.

Price Action

During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.

Support/Resistance

After trading as low as 80.46 during the day, the market bounced off the key support level at 80.49. The failure to close below the support could increase that levels importance as support going forward. After having been unable to move above 81.32 in the prior session, Xylem Inc. ran into sellers again around the same price level today, failing to move higher than 81.18.

Trend

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

Order Flow

Buying might speed up should prices move above the nearby swing high at 81.32 where further buy stops could 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 Xylem Inc.

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