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June 12, 2023Friday at a glance: a tough session dominated by bearish sentiment left A. O. Smith 95 cents lower, while setting a $68.45 to $69.87 session range.
A. O. Smith Corp made an initial break below its 5 day Simple Moving Average at $69.06, a possible indication of a forthcoming negative trend. A. O. Smith's upper Bollinger Band® is at $70.79 which indicates a further downward move may follow. Despite this, although A. O. Smith is down today and was as low as $68.45, it seems to be recovering slightly and climbing away from the $68.19 support line and is now 60 cents above it.
Several technical indicators are adding weight to the bearish momentum seen Friday and forecasting A. O. Smith to extend its recent losses.
A. O. Smith was not the only decliner in the industrials sector; United Parcel Service went down to $170.49, losing 0.58% after it closed at $171.48 Friday. Union Pacific went down 0.66%, closed at $201. Deere & Company went down 0.5%, closed at $380.77.
Furthermore, United States Consumer Price Index is expected tomorrow at 12:30 UTC. United States Core Consumer Prices is expected tomorrow at 12:30 UTC. United States Consumer Price Index is expected tomorrow at 12:30 UTC.
After hitting an important low of $48.58 approximately 8 months ago, the water heater manufacturer has bounced back 43.56% since.
