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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Aqua America (NYSE:WTR) based on the price action in the company's shares. Today's price range of $30.82 and $31.26 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 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.

Based on a current price of $31.17, Aqua America is currently 0.3% above its average consensus analyst price target of $31.08. Aqua America shares have support at the 50-day moving average (MA) of $30.47 and additional support at the 200-day MA of $27.66.

In the past 52 weeks, shares of Aqua America have traded between a low of $24.40 and a high of $32.34 and are now at $31.17, which is 28% 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 0.2%.

SmarTrend recommended that subscribers consider buying shares of Aqua America on September 21st, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.13. Since that recommendation, shares of Aqua America have risen 19.7%. We continue to monitor WTR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle aqua america

Ticker(s): WTR