AEE dominated by bulls lifting the market higher throughout the day
Ameren Corporation (AEE) Technical Analysis Report for Feb 14, 2020 | by Techniquant Editorial Team
Moving higher for the 8th day in a row, AEE ended the week 3.82% higher at 86.79 after surging $1.04 (1.21%) today, strongly outperforming the S&P 500 (0.18%) ahead of tomorrow's Presidents' Day market holiday. Today's close at 86.79 marks the highest recorded closing price ever. The bulls were in full control today, moving the market higher throughout the whole session. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (AEE as at Feb 14, 2020):
Friday's trading range has been $1.07 (1.24%), that's far above the last trading month's daily average range of $0.82. Weekly volatility is also higher, being way above the market's average weekly trading range. The longer-term, monthly volatility is currently higher than usual for AEE.
One bullish candlestick pattern matches today's price action, the White Candle.
With another close above the upper Bollinger Band, prices are confirming their strong upward momentum in the short-term. A drop back into the Bollinger Band on the next trading day although could signal a potential change in momentum that might lead to a correction back down towards the center of the Bollinger Bands at 82.27.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Close near high of period" stand out. Its common bullish interpretation has been confirmed for Ameren. Out of 698 times, AEE closed higher 54.44% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 56.73% with an average market move of 0.32%.