XYL | SHORT
XYL Technical Analysis of Xylem Inc. (XYL)
Key Observations:
Current Price Action:
Price: $130.15
Recent Drop: -3.18 (-2.39%)
Support and Resistance Levels:
Immediate Support: $128.85 (Bearish Line)
Further Supports: $124.66 (Target Price 1), $119.62 (Target Price 2), and $114.08 (Target Price 3)
Resistance: The price has recently broken below a support level around $131.13.
Trendlines:
The price has broken below a key upward trendline, indicating a potential shift from a bullish to a bearish trend.
Relative Strength Index (RSI):
Current RSI: 36.81
The RSI is nearing the oversold zone, indicating increasing selling pressure and potential for further declines.
Target Prices:
Target Price 1: $124.66
This level is the immediate support and a potential first target for any continued downward movement.
Target Price 2: $119.62
If the price breaks below the immediate support, the next target is around $119.62, a previous support level.
Target Price 3: $114.08
Further downside could see the price reaching $114.08, another key support level.
Summary:
Xylem Inc. (XYL) has experienced a significant drop, breaking below a key support level and its upward trendline. The next levels to watch are $128.85, $124.66, $119.62, and $114.08. The RSI indicates potential for further declines if market conditions remain negative.
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