• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Mueller Water-A (NYSE:MWA)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Mueller Water-A (NYSE:MWA) based on the price action in the company's shares. Today's price range of $11.02 and $11.02 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 Mueller Water-A may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 25.7% exists for Mueller Water-A, based on a current level of $11.02 and analysts' average consensus price target of $13.86. The stock should discover initial support at its 200-day moving average (MA) of $10.79 and subsequent support at its 50-day MA of $10.43.

Mueller Water Products, Inc. manufactures a broad range of water infrastructure and flow control products for use in water distribution networks, water and wastewater treatment facilities, gas distribution systems and fire protection piping systems. The Company's product portfolio includes engineered valves, hydrants, pipe fittings and ductile iron pipe.

Over the past year, Mueller Water-A has traded in a range of $8.47 to $12.59 and is now at $11.02, 30% above that low. Over the past week, 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 Mueller Water-A and will alert subscribers who have MWA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle mueller water-a

Ticker(s): MWA