AES CORPORATION :
Text book ascending triangle .
Ascending triangle patterns usually occur in trends and acts as a continuation pattern. It's defined by a bullish trending move followed by two or more equal highs and a series of higher lows.
The pattern is complete when price breaks above the horizontal resistance area. The pattern is considered successful if...
I can't understand how money will continue to move into this stock, while it just reported a $400M loss. If market conditions change to become bearish - like the implied move suggests - then I can see this stock going down harder than the rest.
$AES posted earnings with a neutral outlook projection after a Negative Over reaction placed the stock in Drift C.
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AES Corp. has retraced 88.6% of its Feb/Mar range
This may be setting up a Bearish Harmonic Bat Pattern reversal
Adding to this is an ABCD pattern (in green) where CD is a 1.27 extention of AB at the current price.
Let the pattern develop and roll over as it is a reversal and going against the recent trend, before deciding to initiate/exit an existing position.