American Water Works Stock Forecast

American Water Works stock upgraded to Buy Candidate.
(Updated on Apr 24, 2024)

AWK Signals & Forecast

The American Water Works stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $117.94 and $118.71. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 6.62%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for American Water Works stock

American Water Works finds support from accumulated volume at $119.68 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.51 between high and low, or 2.97%. For the last week the stock has had daily average volatility of 1.94%.

Since the American Water Works has been rising for 6 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $116.98 (-3.61%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 6 days ago.)

Trading Expectations (AWK) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect American Water Works to open at $120.39, and during the day (based on 14 day Average True Range), to move between $118.97 and $123.75, which gives a possible trading interval of +/-$2.39 (+/-1.97%) up or down from last closing price. If American Water Works takes out the full calculated possible swing range there will be an estimated 3.94% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $121.73 (0.30%) than the support at $119.68 (1.38%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is American Water Works stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 2.008 Buy Candidate Upgraded

Predicted Opening Price for American Water Works of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.