Although A. O. Smith increased from $53.7 to $54.1, the stock dropped back and is now priced at $54.1.
- A. O. Smith is currently trading at $54.1 following the release of ISM Non-Manufacturing PMI (Oct) data from the United States.
- In contrast to today's gains, A. O. Smith has been on a 3 day bearish trend during which it lost $1.08 of its value.
United States ISM Non-Manufacturing PMI (Oct) came out at 54.4, while a consensus of analysts was expecting 55.5. Data for United States Initial Jobless Claims published today at 12:30 UTC came out at 217,000, beating projections of 220,000 and showing improvement over the preceding figure of 218,000.
Visual analysis of A. O. Smith's chart shows that A. O. Smith Corp could be slowing down soon; it is getting close to the resistance line and is now at $55.11, only $1 away. Crossing the resistance line could, however, suggest that further gains are ahead. Technical analysis trend indicators suggest that A. O. Smith made an initial breakout above its 5 day Simple Moving Average at $53.87, a potential indicator of a newly emerging bullish phase. According to asset volatility analysis, Bollinger Band® analysis indicates that current price action is approaching the upper band at $55.39, thereby suggesting that A. O. Smith is becoming overvalued.
Overall, the technical outlook suggests A. O. Smith is likely to remain muted for the immediate future, with no clear-cut direction.
United States Non Farm Payrolls projected to decline to 200,000 while previous data was 263,000; data will be released tomorrow at 12:30 UTC. Projections for United States Unemployment Rate are set for a continuation of decline with 3.6 while previous data was 3.5; data will be released tomorrow at 12:30 UTC.
Deere & Company is up 1.56%. Honeywell International is up 1.2% to $202.88. Caterpillar is up 1.42%.
Having set a significant high of $85.85 a month ago, A. O. Smith is trading 10.54% lower.