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Possible Bearish Inside Day Candle Pattern Detected for Xylem Inc (NYSE:XYL)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Xylem Inc (NYSE:XYL) based on the price action in the company's shares. Yesterday's price range of $82.97 and $83.46 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 Xylem Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Xylem Inc share prices have been bracketed by a low of $60.65 and a high of $83.55 and closed yesterday at $83.07, 37% above that low price. The 200-day and 50-day moving averages have moved 0.22% higher and 0.66% higher over the past week, respectively.

Xylem Inc (NYSE:XYL) is currently priced 4.1% above its average consensus analyst price target of $79.62. Xylem Inc shares have support at the 50-day moving average (MA) of $77.69 and additional support at the 200-day MA of $73.06.

Xylem, Inc. is a designer, manufacturer, equipment, and service provider for water and wastewater applications addressing the full-cycle of water from collection, distribution, and use to the return of water to the environment. The Company's products include water and wastewater pumps, treatment and testing equipment, industrial pumps, valves, heat exchangers, and dispensing equipment.

SmarTrend is tracking the current trend status for Xylem Inc and will alert subscribers who have XYL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle xylem inc

Ticker(s): XYL