American Water Works Co (AWK) Trade Idea.
American Water Works is the largest investor-owned us water and wastewater utility, serving approximately 3.5 million customers in 16 states. It provides water and wastewater services to residential, commercial, and industrial customers and operates predominantly in regulated markets. The company's nonregulated business...
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%.
