AEE closes below its opening price unable to hold early session gains


Ameren Corp (AEE) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
AEE closes below its opening price unable to hold early session gains
AEE ends the day on a bearish note closing near the low of the day
AEE closes within previous day's range
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

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 chart for AEE
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 62.86.

Trend

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

Order Flow

Selling might speed up should prices move below the nearby swing low at 61.96 where further sell stops could get triggered.

Conclusion

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

Market Conditions for Ameren Corp
Condition Forecast Direction Win Avg Worst Best Events
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
White Candle TQ Pro Members Only
Very Strong Up Move TQ Pro Members Only
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