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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Aqua America Inc (NYSE:WTR) based on the price action in the company's shares. Yesterday's price range of $33.13 and $33.58 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 Aqua America Inc may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Aqua America Inc share prices have moved between a 52-week high of $39.55 and a 52-week low of $32.30 and closed yesterday at 4% above that low price at $33.55 per share. The 200-day and 50-day moving averages have moved 0.02% lower and 0.04% lower over the past week, respectively.

Aqua America Inc has overhead space with shares priced $33.55, or 6.8% below the average consensus analyst price target of $36.00. The stock should run into initial resistance at its 50-day moving average (MA) of $34.25 and subsequent resistance at its 200-day MA of $35.05.

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 is monitoring the recent change of momentum in Aqua America Inc. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Aqua America Inc in search of a potential trend change.

Keywords: bullish am inside day candle aqua america inc

Ticker(s): WTR