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Possible Bearish Inside Day Candle Pattern Detected for Aqua America Inc (NYSE:WTR)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aqua America Inc (NYSE:WTR) based on the price action in the company's shares. Today's price range of $39.58 and $39.58 is within yesterday'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 Aqua America Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Aqua America, Inc. is a water utility company. The Company supplies water to residential, commercial, industrial, and public customers. Aqua America serves residents through its water and wastewater operations in the Northeastern Southeastern, and Midwestern United States.

Aqua America Inc (NYSE:WTR) defies analysts with a current price ($39.58) 9.0% above its average consensus price target of $36.00. The stock should find initial support at its 50-day moving average (MA) of $37.40 and further support at its 200-day MA of $35.94.

In the past 52 weeks, shares of Aqua America Inc have traded between a low of $32.09 and a high of $39.76 and are now at $39.58, which is 23% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend is tracking the current trend status for Aqua America Inc and will alert subscribers who have WTR in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle aqua america inc

Ticker(s): WTR