• Return to Headlines

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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Mueller Water-A (NYSE:MWA) based on the price action in the company's shares. Yesterday's price range of $10.85 and $10.93 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 Mueller Water-A may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Mueller Water-A has overhead space with shares priced $10.89, or 21.4% below the average consensus analyst price target of $13.86. Mueller Water-A shares should encounter resistance at the 50-day moving average (MA) of $11.17 and support at its 200-day MA of $10.36.

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.

In the past 52 weeks, Mueller Water-A share prices have been bracketed by a low of $8.47 and a high of $12.26 and closed yesterday at $10.89, 29% above that low price. The 200-day and 50-day moving averages have moved 0.23% higher and 0.37% higher over the past week, respectively.

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: bullish am inside day candle mueller water-a

Ticker(s): MWA