AEE closes within prior day's range after lackluster session


Ameren Corp (AEE) Technical Analysis Report for Jul 13, 2018 [1 min read]
Highlights
AEE runs into sellers around 61.46 for the third day in a row
AEE closes above its opening price after recovering from early selling pressure
AEE ends the day on a bullish note closing near the high of the day
AEE rises to highest close since July 6th
AEE stuck within tight trading range
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

AEE finished the week -1.03% lower at 61.39 after gaining $0.02 (0.03%) today. Today's closing price of 61.39 marks the highest close since July 6th. Trading up to $0.39 lower after the open, Ameren Corp managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for AEE
Volatility

Friday's trading range was $0.48 (0.78%), that's below last trading month's daily average range of $0.86. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 60.39 and 61.50 which it has been in now for the last three days.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to the key resistance level at 61.50. The stock ran into sellers again today around 61.46 for the third trading day in a row after having found sellers at 61.50 in the previous session and at 61.48 two days ago.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could accelerate should prices move above the close-by swing high at 61.50 where further buy stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Ameren Corp
ConditionForecastDirectionWinAvgWorstBestEvents
Rickshaw-Man TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Doji TQ Pro Members Only
Long-Legged Doji TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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