| 
June 18, 2023Friday at a glance: having closed Thursday at $70.51, bullish sentiment helped A. O. Smith to reach highs around $71.19 before paring gains and ending Friday at $71.
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. Asset volatility analysis shows that Bollinger Band® analysis indicates that current price action is approaching the upper band at $72.12, thereby suggesting that A. O. Smith is becoming overvalued. A. O. Smith's notable support and resistance levels: A. O. Smith could be slowing down soon as it approaches resistance at $71.34. Of course, crossing it might suggest further gains are ahead.
Notwithstanding A. O. Smith's appreciation in recent days, the technical outlook suggests its bullish run is now fading.
A look at other industrials stocks also showed bullish price action as Lockheed Martin traded at $459.17 after closing Friday's trading day at $455.95 (up 0.71%). General Electric was up 0.83%.
While A. O. Smith was bullish Friday, the following industrials stocks underperformed: Caterpillar closed at $245.27 (down 0.97%).
The water heater manufacturer reached a significant high of $71 around 2 days ago but has lost 0.69% since then.
