American Water Works Stock Forecast

Green day on Tuesday for American Water Works stock after gaining 0.511%
(Updated on Apr 23, 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 $117.17 and $118.65. 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 5.32%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. 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 $1.53 between high and low, or 1.29%. For the last week the stock has had daily average volatility of 1.74%.

Our recommended stop-loss: $114.64 (-4.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 5 days ago.)

Trading Expectations (AWK) For The Upcoming Trading Day Of Wednesday 24th

For the upcoming trading day on Wednesday, 24th we expect American Water Works to open at $119.81, and during the day (based on 14 day Average True Range), to move between $117.57 and $122.17, which gives a possible trading interval of +/-$2.30 (+/-1.92%) up or down from last closing price. If American Water Works takes out the full calculated possible swing range there will be an estimated 3.84% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $119.68 (0.16%) than the resistance at $121.73 (1.55%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is American Water Works stock A Buy?

American Water Works holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: 0.436 Hold/Accumulate Unchanged

Predicted Opening Price for American Water Works of Wednesday, April 24, 2024

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