• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Calif Water Srvc (NYSE:CWT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Calif Water Srvc (NYSE:CWT) based on the price action in the company's shares. Yesterday's price range of $51.99 and $54.00 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. Owners of Calif Water Srvc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Calif Water Srvc share prices have been bracketed by a low of $39.74 and a high of $57.48 and closed yesterday at $52.87, 33% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

California Water Service Group is the parent company of several water utility companies. The Company provides regulated and non-regulated water utility services to customers in California, New Mexico, and Washington.

Based on a current price of $52.87, Calif Water Srvc is currently 27.5% above its average consensus analyst price target of $38.33. The stock should discover initial support at its 200-day moving average (MA) of $52.30 and subsequent support at its 50-day MA of $51.54.

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

Keywords: bearish am inside day candle calif water srvc

Ticker(s): CWT