Price is currently sitting above the middle of a large up channel. This is preceded by a large inverted H&S pattern. I expect the middle to act as support and price to move upward as indicated by the bars pattern.
AOS has been forming an inverse head and shoulders since May of 2021 and now looks like it's ready to move higher.
Fundamentally, the company's doing pretty well and is expected to do better in the coming year with increasing earnings per share and sales.
Technically, it has been on a solid up trend and now is looking to continue. With a Beta over one it's...
$AOS inverse head & shoulders continuation pattern right underneath ATHs. The green dotted line on the chart is the ATHs from back in 2018. #TAPLOTWL
Smith A O Corp (AOS)- MANUFACTURES WATER HEATING EQUIPMENT FOR VARIOUS RESIDENTIAL AND COMMERCIAL MARKETS WORLDWIDE.
This stock has been in a steady uptrend since Feb 2021. It is also attempting to break all time high $73.05 on 10 May. Uptrend still intact, support at $68.50 or $66.
AOS is at AH and has formed round base on weekly and now consolidating in symmetrical triangle, that means both possible directions which price could move.
One should notice that the price forming a handle and it also can decline more.
Not a recommendation, just an observation.
After achieving the first and second targets, prices returned to the selling area again and began to decline, so I advise selling again for the targets
T1 53.60
T2 51.43
SL closing up 60.10
Picked up this stock by Smarttrader on youtube. See if it continues on the flag and will consider buying an option on this one. Read a bit on the company and it seems interesting with people spending more time at home.
