Pentair plc (PNR) manufactures "water and fluid solutions, valves and controls, equipment protection and thermal management products." The stock price of PNR has been a strong performer the past eight months. Let's check out the charts and indicators to see if this uptrend can continue.
In the daily bar chart of PNR, below, I can see that the shares are up 50% from their lows in September-October-November. The shares trade above the rising 50-day moving average line and above the rising 200-day line.
The On-Balance-Volume (OBV) line shows a rise from October but a flattening out in the past two months. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line but below the best levels in February.
In the weekly Japanese candlestick chart of PNR, below, I see a positive-looking setup. The shares are in an uptrend and trade above the rising 40-week moving average line. The weekly OBV line began an uptrend in December but looks like it could be leveling off in June.
The MACD oscillator is above the zero line but it has narrowed telling me that the trend strength is weakening.
In this daily Point and Figure chart of PNR, below, I can see a "V" bottom and a potential upside price target in the $94 area.
In this weekly Point and Figure chart of PNR, below, I can see a price target in the $76 area. This target is lower than the daily chart above.
Bottom-line strategy: Traders could go long PNR at current levels risking to $57. The $76 area is my first price target.
