blue-chip

One NYSE-Listed Utility Stock Near Resistance Level: American Water Works Company, Inc.

May 14, 2024 | Team Kalkine

Read Time :5 min

One NYSE-Listed Utility Stock Near Resistance Level: American Water Works Company, Inc.

AWK

Investment Type

Large-cap

Risk Level

Action

Rec. Price (US$)

American Water Works Company, Inc.

Company Overview: American Water Works Company, Inc. (NYSE: AWK) is a water and wastewater utility company. The Company's primary business involves the ownership of utilities that provide water and wastewater services to residential, commercial, industrial, public authority, fire service and sale for resale customers. It also operates other market-based businesses that provide water and wastewater services to the United States government on military installations, as well as municipalities.

As per our previous US Dividend Income report published on ‘AWKs’ on 27^th March 2023, Kalkine provided an ‘Buy’ stance on the stock at USD 117.84 based on “expected valuation upside, lower balance sheet risk, and trading levels” and the stock price has now moved by ~13.6% since then and has attained resistance 1 and hovering near resistance 2.

Noted below are the details of support and resistance levels provided in our previous report:

AWK’s Daily Chart

Considering the current trading levels, resistance 1, risks associated, and volatile market conditions on the back of higher interest rates, an ‘Sell’ rating is assigned to the “AWK” at the current market price of USD 133.23 (as of 14 May 2024 at 09:16 AM PDT).

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is May 14, 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

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