A quick look at yesterday: generally flat but with a slight bullish bias, A. O. Smith ranged between $66.86 and $67.68 before closing higher at $67.57.
United States Building Permits (Mar) is next today at 12:30 UTC.
At the same time, United States TIC Net Long-Term Transactions (Feb) came out at 71 billion, while a consensus of analysts was expecting 101.9 billion. United States NY Empire State Manufacturing Index (Apr) released yesterday at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.
Bollinger Band® analysis indicates that current price action is approaching the upper band at $69.5, thereby suggesting that A. O. Smith Corp is becoming overvalued. A. O. Smith could be slowing down soon; it is getting close to the resistance line and is now at $67.88, only 31 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest A. O. Smith is set for a reversal in the coming days.
A look at other industrials stocks also showed bullish price action as Boeing added 1.65% to its value, and traded at $205.03. Raytheon Technologies traded at $103.11 after closing yesterday's trading day at $101.68 (up 1.41%). General Electric traded at $96.77 after closing yesterday's trading day at $95.44 (up 1.39%).
Furthermore, the market is looking at United States Crude Oil Inventories projected to decline to -2.46 million while previous data was 597,000; data will be released tomorrow at 14:30 UTC.
Furthermore, the market is looking at United States Building Permits (Mar) scheduled to come out today at 12:30 UTC.
The water heater manufacturer is now trading 38.16% above the significant low ($48.58) it slumped to 6 months ago.