Slow down? Following a three day winning streak, A. O. Smith faltered yesterday; now hovering around $68.45

A quick look at yesterday: a mostly flat day so far for the water heater manufacturer, range-bound between $67.73 and $68.71 and currently at $68.45.

United States EIA Short-Term Energy Outlook is next.

Uncertainty around A. O. Smith is reflected by published market data as United States ISM Non-Manufacturing PMI (May) came out at 50.3, while a consensus of analysts was expecting 51.8. United States Services PMI released yesterday at 13:45 UTC with a figure of 54.9, while the previous figure was 53.6. Factory Orders in United States fell short of market expectations (1.1%) with a reading of 0.4%, continuing the decline from the previous figure of 0.6%.

Trend-focused traders would be interested to note that the MACD index is indicating that momentum is shifting from bearish to bullish following a positive crossover. When the MACD rises above the signal line, it is typically considered to be a bullish development favoring long positions. According to asset volatility analysis, A. O. Smith's upper Bollinger Band® is at $70.36, suggesting that a downward move may follow. Chart analysis indicates A. O. Smith is approaching key support, around $1.18 away from $67.27. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.

Notwithstanding A. O. Smith's appreciation in recent days, the technical outlook suggests its bullish run is now fading.

Meanwhile, mixed performances were seen by other industrials stocks as Boeing went down to $208.78, losing 2.13% after it closed at $213.32 yesterday. United Parcel Service went down 1.35%, closed at $170.14. Deere & Company closed at $363.65 (down 2%).

Data to be released today might clear up some of the market fog as projections for United States Crude Oil Inventories are set for a continuation of decline with 1.15 million while previous data was 4.49 million; data will be released tomorrow at 14:30 UTC. United States EIA Short-Term Energy Outlook is scheduled for today at 16:00 UTC.

A. O. Smith hit a significant low of $48.58 around 8 months ago, but has since recovered 40.82%.