AEE closes below its opening price unable to hold early session gains
Ameren Corp (AEE) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
AEE ended the week 0.53% higher at 62.78 after edging lower $0.05 (-0.08%) today. Trading $0.42 higher after the open, the stock was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (AEE as at Aug 10, 2018):
Friday's trading range was $0.71 (1.13%), that's slightly below last trading month's daily average range of $0.78. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 62.86.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Selling might speed up should prices move below the nearby swing low at 61.96 where further sell stops could get triggered.