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

By Amy Schwartz

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 $27.56 and $28.01 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.

There is potential upside of 5.1% for shares of Aqua America based on a current price of $27.72 and an average consensus analyst price target of $29.14. The stock should discover initial support at its 50-day moving average (MA) of $26.10 and subsequent support at its 200-day MA of $25.06.

Over the past year, Aqua America has traded in a range of $22.40 to $28.22 and is now at $27.72, 24% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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.

SmarTrend recommended that subscribers consider buying shares of Aqua America on October 22nd, 2014 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $24.99. Since that recommendation, shares of Aqua America have risen 12.3%. 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