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Possible Bullish Inside Day Candle Pattern Detected for American Water W (NYSE:AWK)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in American Water W (NYSE:AWK) based on the price action in the company's shares. Yesterday's price range of $134.58 and $134.76 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. Traders and investors interested in shares of American Water W may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

American Water W (NYSE:AWK) is currently priced 13.3% above its average consensus analyst price target of $117.43. American Water W shares have support at the 50-day moving average (MA) of $126.18 and additional support at the 200-day MA of $120.31.

Over the past year, American Water W has traded in a range of $93.90 to $137.73 and closed yesterday at $135.40, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.4%.

American Water Works Co., Inc. provides drinking water, wastewater, and other water-related services in multiple states and Ontario, Canada. The Company's primary business involves the ownership of regulated water and wastewater utilities that provide water and wastewater services to residential, commercial, and industrial customers.

SmarTrend is tracking the current trend status for American Water W and will alert subscribers who have AWK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle american water w

Ticker(s): AWK