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blue-chip

One NYSE-Listed Utilities Stock at Resistance Level: Essential Utilities Inc

May 08, 2024 | Team Kalkine
One NYSE-Listed Utilities Stock at Resistance Level: Essential Utilities Inc

WTRG:NYSE
Investment Type
Large-cap
Risk Level
Action
Rec. Price (US$)

Essential Utilities Inc

Company Overview: Essential Utilities, Inc. (NYSE: WTRG) is a holding company for regulated utilities providing water, wastewater, or natural gas services. The Company’s segments include the Regulated Water segment and the Regulated Natural Gas segment.

As per our previous US Inflation report published on ‘ASC’ on 18th April 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 34.51 based on “recent business and financial updates, improved profitability metrics, expected valuation upside, attractive valuation, risks associated, positive outlook and trading levels and the stock price has now moved by ~11.59% since then and has attained resistance 1.

Noted below are the details of support and resistance levels provided in our previous report:

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