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Possible Bearish Inside Day Candle Pattern Detected for AO Smith (NYSE:AOS)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in AO Smith (NYSE:AOS) based on the price action in the company's shares. Yesterday's price range of $92.03 and $93.10 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of AO Smith may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

A.O. Smith Corporation manufactures products through its electric motor and water systems technologies segments. The Company's products include fractional horsepower and hermetic electric motors, and residential and commercial water heaters.

Based on a current price of $92.14, AO Smith is currently 12.0% above its average consensus analyst price target of $81.09. The stock should find initial support at its 50-day moving average (MA) of $76.03 and further support at its 200-day MA of $72.30.

In the past 52 weeks, shares of AO Smith have traded between a low of $50.09 and a high of $98.38 and closed yesterday at $92.14, which is 84% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.8%.

SmarTrend is monitoring the recent change of momentum in AO Smith. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of AO Smith in search of a potential trend change.

Keywords: bearish am inside day candle ao smith

Ticker(s): AOS