AEE drops to lowest close since May 15th


Ameren Corporation (AEE) Technical Analysis Report for Jun 25, 2020 | by Techniquant Editorial Team

Highlights

AEE falls to lowest close since May 15th
AEE closes lower for the 3rd day in a row
AEE closes within previous day's range

Overview

Moving lower for the 3rd day in a row, AEE ended Thursday at 68.81 losing $0.65 (-0.94%) on low volume, notably underperforming the S&P 500 (1.1%). Today's close at 68.81 marks the lowest recorded closing price since May 15th. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range.

Daily Candlestick Chart (AEE as at Jun 25, 2020):

Daily technical analysis candlestick chart for Ameren Corporation (AEE) as at Jun 25, 2020

Thursday's trading range has been $2.30 (3.31%), that's slightly above the last trading month's daily average range of $2.28. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for AEE.

One bullish candlestick pattern matches today's price action, the Hammer. The last time a Hammer showed up on June 18th, AEE actually lost -3.67% on the following trading day.

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

Trading close to April's low at 65.90 we might see further downside momentum if potential sell stops at the level get activated.

Among the two market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Lower Closes" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for Ameren. Out of 134 times, AEE closed higher 54.48% 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 67.91% with an average market move of 0.98%.


Market Conditions for AEE as at Jun 25, 2020

Loading Market Conditions for AEE (Ameren Corporation)...
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AEE closes within previous day's range

Aug 12, 2020
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