Aqua America, Inc. ( $WTR ) – stock is trading under 50 dollars and offering a possible buying price between $44.39 – $46.61. Let’s look at the stocks technical actions using a weekly chart.
2. The stock had a washout week back in April when it lost ground and bounced back and ended at the top range of the week on a monster volume.
3. The stock witnessed a breakout right after the washout week, as it was pretty much a reset.
4. The stock had a great run after that.
5. The stock took sometime to digest the gains.
6. The stock also found support at the 50 day moving average line.
7. The stock kind of formed a three week tight trading pattern now, which generally considered as bullish.
8. The stock is offering possible buying price between $44.39 – $46.61, with a stop loss at $40.84.
This stock is already part of our Stocks Under 50 Dollars pick and performance will be tracked here.
