A quick look at yesterday: after closing at $60.1 on Thursday, A. O. Smith rallied as high as $61.41 but ended the day at $61.28.
At the same time, United States Existing Home Sales (Oct) released yesterday at 15:00 UTC with a figure of 4.43 million, while the previous figure was 4.71 million. Fresh CFTC Crude Oil speculative net positions data from United States came out at 274,800. United States CFTC Gold speculative net positions came out at 82,300.
A. O. Smith's notable support and resistance levels: A. O. Smith Corp could be slowing down soon; it is getting close to the resistance line and is now at $61.63, only 35 cents away. Crossing the resistance line could, however, suggest that further gains are ahead. Trend-following investors would be interested to note that the Commodity Channel Index (CCI) indicator is above +100, meaning the market price is unusually high compared to the rolling average. According to momentum evaluation, the Relative Strength Index indicates A. O. Smith is currently 'overbought' which suggests new gains will be harder to obtain. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $63, thereby suggesting that A. O. Smith is becoming overvalued.
Overall, while A. O. Smith has been on an uptrend, technical indicators suggest that it has no obvious direction for the immediate future.
This rally in A. O. Smith's share price coincided with other industrials stocks as United Parcel Service was up 1.65%. Automatic Data Processing was up 0.97%. Lockheed Martin added 0.86% to its value, and traded at $476.82.
The stock has been trending positively for about 29 days. Having set a significant high of $85.85 a month ago, A. O. Smith is trading 23.71% lower.