Zurn Elkay Water Solutions ( ZWS) supplies the industry's widest range of clean water products and services for drinking water, hygiene and sustainable water management. With some scientists suggesting that water is going to become a scarce commodity, an investment in this space may be a good idea. Let's review the charts and indicators.
In this daily bar chart of ZWS, below, I can see that prices have broken out of a base pattern. ZWS has broken above the highs of November/December and January. Prices trading above the rising 50-day moving average line and above the declining 200-day line. The On-Balance-Volume (OBV) line shows a rise from the middleo January. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.
In this weekly Japanese candlestick chart of ZWS, below, I can see that prices have broken their longer-term downtrend. Prices now trade above the 40-week moving average line. The weekly OBV line shows a rise from January. The MACD oscillator has been improving but is still below the zero line.
In this daily Point and Figure chart of ZWS, below, I can see a potential upside price target in the $39 area.
In this weekly Point and Figure chart of ZWS, below, I can see the same $39 price target as the daily chart above.
Bot to m-line strategy : Traders could go long ZWS at $25 or better. Risk to $23. The $39 area is my price target for now.
