American Water's Uptrend on Tap to Resume

American Water Works (AWK) provides water and waste water services to its customers. From 2010 to 2015, the company's shares had been rising above a steady 45° uptrend line. But this year that angle steepened, increasing the likelihood of a healthy pullback, which would absorb the accelerated gains and replenish momentum.

The weekly chart, below, shows the nearly 75% move from the late 2015 low to the 2016 high, and a 38% Fibonacci retracement that followed the move. That retracement level has been retested several times and is proving to be solid support. This has given time for the stochastics momentum oscillator time to move up and out of an oversold condition and for the accumulation/distribution line to narrow the spread between it and its signal line....110 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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