York Water Shares Face Technical Pressure Despite CEO’s Confident Purchase

York Water Company shares are exhibiting concerning technical patterns despite a notable insider purchase by the company’s chief executive. The water utility, traditionally viewed as a stable dividend-paying investment, finds itself in a pronounced technical downtrend. Two distinct bearish chart signals emerged recently, suggesting further potential weakness, even as the CEO made a significant investment near the stock’s annual low.

The charts painted a bleak picture on September 10th, delivering two ominous technical signals. A 15-minute chart revealed a MACD death cross, a development that occurs when the MACD line crosses below its signal line. Market technicians generally interpret this pattern as a shift from bullish to bearish sentiment. More significantly, the formation of a bearish marubozu candlestick appeared?a... Read more...