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May 19, 2023A. O. Smith trades at $69.19, after ending yesterday at $69.14.
- United States Fed Chair Powell speech is next today at 15:00 UTC.
- While flat so far today, A. O. Smith is on a 3 day bullish trend, gaining a total of $1.93 throughout.
Earlier data releases related to A. O. Smith – United States Existing Home Sales (Apr) came out at 4.28 million, while a consensus of analysts was expecting 4.3 million. United States Philadelphia Fed Manufacturing Index (May) released yesterday at 12:30 UTC with a figure of -10.4, while the previous figure was -31.3.
Here is the technical analysis of A. O. Smith before macro data is released:
A. O. Smith Corp's upper Bollinger Band® is at $70.69, suggesting that a downward move may follow.
Despite the market lacking direction, technical chart analysis strongly suggests A. O. Smith is positioned for a downward move in the near term.
Coming up for A. O. Smith — United States Fed Chair Powell speech set for today at 15:00 UTC.
As the markets get ready for more data to be released — Deere & Company is up 4.53%. Caterpillar gained 1.78%, currently at $218.54. General Electric is trading at $105 after ending yesterday's session at $104 (up 0.97%).
The stock has been trending positively for about a month. The water heater manufacturer has recovered 42.32% since descending to a significant low of $48.58 around 7 months ago.
