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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Xylem (NYSE:XYL) based on the price action in the company's shares. Yesterday's price range of $42.82 and $43.34 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 Xylem may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Xylem have traded between a low of $29.90 and a high of $46.67 and closed yesterday at $43.06, which is 44% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.9%.

Xylem, Inc. is a designer, manufacturer, equipment and service provider for waterand wastewater applications addressing the fullcycle of water from collection, distribution, and use to the return of water to the environment.

Xylem (NYSE:XYL) defies analysts with a current price ($43.06) 10.1% above its average consensus price target of $38.71. The stock should discover initial support at its 50-day moving average (MA) of $40.32 and subsequent support at its 200-day MA of $36.28.

SmarTrend recommended that subscribers consider buying shares of Xylem on January 27th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.12. Since that recommendation, shares of Xylem have risen 21.6%. We continue to monitor XYL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle xylem

Ticker(s): XYL