• Return to Headlines

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

By David Diaz

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 $25.08 and $25.35 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 share prices have moved between a 52-week high of $28.22 and a 52-week low of $23.12 and are now trading 10% above that low price at $25.33 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

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.

There is potential upside of 17.9% for shares of Aqua America based on a current price of $25.33 and an average consensus analyst price target of $29.88. Aqua America shares should first meet resistance at the 50-day moving average (MA) of $25.60 and find additional resistance at the 200-day MA of $26.17.

SmarTrend recommended that its subscribers protect gains by selling shares of Aqua America on February 12th, 2015 by issuing a Downtrend alert when the shares were trading at $26.27. Since that call, shares of Aqua America have fallen 3.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bearish inside day candle aqua america

Ticker(s): WTR