At AWK, we now consider the low of the green wave (B) to be in place. We now expect a rise above the resistance at $161.91. Within the green and magenta target zone between $106.48 and $127.19, long positions could still be opened. Stops could be placed about 1% below the lower edge.
Fundamentally The Company have a really good quarterly results and is looking cheap at this price. Technically we can see buying pressure from good area of support. Price might go as high as 141.00/142.00 $ before next quarterly results.
American Water Works Company (AWK) is committed to providing water and wastewater treatment services to residential, commercial, and industrial customers across the United States.
Financial Performance:
Q2 2023: The company reported revenue of $8.882 billion in the second quarter of 2023, showing an increase compared to the same period last year. Net income also...
American Water Works has now risen a bit after its significant decline. It is impossible to say whether the stock has already deposited the low of the magenta wave . Only a sustained rise should convince us of this. Theoretically, the price still has room on the downside but should stay within the support at $132.87 because our alternative is activated otherwise....
NYSE:AWK+NASDAQ:LOVE+NASDAQ:TCOM*4+NASDAQ:CAKE*4 This is my new group it started at $3.50 this morning. Was finally able to get a 1 long term of my new addition CAKE and 3 short term. Same game plan. Wait for a strong day and look for potential weakness and take profits. Add something new to keep the balance. Will post a new list of refill potentials...
In several stages, American Water Works should make its way to the top of wave b in gray. First, though, the share needs to finish wave B in turquoise before the support at $132.87. Otherwise, we would expect it to develop a new low of wave alt.(X) in magenta first, which would then be located in the magenta zone between $127.19 and $113.53. We rate this...
AWK has formed a nice higher low which is indicative of this bowl structure or cup.
The handle is yet to form but it has a chance if this cup completes itself on this daily chart.
An inverted H&S is also present.
A price action above 148.00 supports a bullish trend direction.
Further bullish confirmation for a break above 152.00.
The upside target price is set at 156.00.
The stop-loss price is set at 146.00 (200-day simple moving average).
Fading downside price momentum supports the positive bias.
American Water Works broke uptrend from 2009 low, failed backtests of that now resistance, has a double-top and formed a head-and-shoulders topping pattern.
The target on a horizontal break is in the $50s, a greater than 50% loss.
The PEAD projected a Bullish outlook for $AWK after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 100%.
