This is a reversal play. AEP has received huge volume with a few bullish candles on the daily. This could signal a reversal for AEP and could be worth putting some money into.
Make sure you practice proper risk management! Have a good week traders.
American Electric Company after fall again on Weekly level and good chance to buy it again.
Fundamental record still good and can expect rising it's EPS.
American Electric Power is one of the largest regulated utilities in the United States, providing electricity generation, transmission, and distribution to more than 5 million retail customers in 11 states. About 43% of AEP's of capacity is coal, with the remainder from a mix of natural gas (29%), renewable energy and hydro (18%), nuclear (8%), and demand response...
AEP is a stock well known for volatility. I am still unsure why many people underestimate stocks like this one. They say volatile stocks are the most predictable. Let's find out.
The Price Is Near The Bottom Again
The price keeps doing higher highs and higher lows. We can see that price is testing the low of the pattern again and with this comes another long possibility as well.
Thank you and Good Luck!
First analysis:
After entering the oversold territory , it has made a hammer indicating the reversal in the trend.
Immediate Target - 85 and then shift stop loss to 85 with target for 90
Green Hammer at the bottom of a down trend, and yesterday confirmed reversal. Since Yesterday it closed in a green doji the move is still undecided. Given bullish sentiment to the market and the increased volume in this stock the past 2 days, it could either consolidate here or keep rising. I don' see any bearish momentum at all. Given that this bounced from the...
I am sure you’ve probably heard about price action trading. It’s not the name of an American action movie 🙂 You will read price action on every financial web site and media when they refer to the movement of any stock of Forex cross pair. Price action is the movement of the underlying stock price plotted over time. It is said to form the basis for all technical...
AEP is looking bearish because it shows a repeated channel pattern with distinct troughs and peaks. Indicators are pointing towards a sell, and so is candle action. Tradingview is rating AEP as a "sell" right now.
Weekly and monthly since 2009 wonderful channel up, now consolidation since three weeks in a flag-like zone. Seeing how the previous 5 times after earnings shares came back a lot, I would wait for a retest of the ascending trendline and then trying to find an entry at around 84-86. For the long term its a wonderful stock.
