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

By David Diaz

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. Today's price range of $46.90 and $47.04 is within yesterday'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.

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.

In the past 52 weeks, Xylem share prices have been bracketed by a low of $29.90 and a high of $47.83 and are now at $46.99, 57% above that low price. The 200-day and 50-day moving averages have moved 0.33% higher and 0.87% higher over the past week, respectively.

Xylem (NYSE:XYL) is currently priced 17.6% above its average consensus analyst 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 is monitoring the recent change of momentum in Xylem. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Xylem in search of a potential trend change.

Keywords: bullish inside day candle xylem

Ticker(s): XYL