• Return to Headlines

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

By David Diaz

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. Yesterday's price range of $43.19 and $43.56 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 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.

In the past 52 weeks, Aqua America Inc share prices have been bracketed by a low of $32.09 and a high of $45.50 and closed yesterday at $43.34, 35% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.6%.

Aqua America Inc (NYSE:WTR) is currently priced 16.9% above its average consensus analyst price target of $36.00. The stock should find initial support at its 50-day moving average (MA) of $42.70 and further support at its 200-day MA of $38.26.

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

Keywords: bearish am inside day candle aqua america inc

Ticker(s): WTR