Xylem (XYL) is trading higher Thursday after the water technology company reported earnings for the first quarter. Let's review the charts and indicators.
In this daily bar chart of XYL, below, I can see that prices bounced off the rising 200-day moving average line in April. XYL is now trading above the 50-day line and the 200-day line. The daily On-Balance-Volume (OBV) line shows some improvement from the middle of March. The Moving Average Convergence Divergence is above the zero line.
In this weekly Japanese candlestick chart of XYL, below, I can see that prices are above the rising 40-week moving average line. The weekly OBV line is up from its September low. The MACD oscillator is slightly above the zero line and poised for a new upside crossover and buy signal.
In this daily Point and Figure chart of XYL, below, I see an upside price target in the $126 area.
In this weekly Point and Figure chart of XYL, below, a price target in the $118 area is shown.
Bottom line strategy: Traders could go long XYL at current levels risking to $97; $118 and then $126 are my price targets.
