AEE pushes through key resistance level
Ameren Corp (AEE) Technical Analysis Report for Apr 16, 2018
Moving higher for the 2nd day in a row, AEE ended Monday at 56.36 surging $0.85 (1.53%). This is the biggest single day gain in over two weeks. Today's closing price of 56.36 marks the highest close since April 9th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 55.83, the share confirms its breakout through the prior session's high having traded $0.66 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.
Monday's trading range was $0.82 (1.47%), that's below last trading month's daily average range of $1.02. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
Breaking through the key resistance level at 55.96 today, it is now likely to act as support going forward.
The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish. The stock managed to break above the 20-day moving average at 55.95 today for the first time since March 26th.
While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
Market Conditions for Ameren Corp
|Condition||Forecast||Direction||Direction||Win Rate||Win Rate||Exit Day||Exit Day||Events|
|2 Consecutive Lower Closes||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Bounced off Technical Support S1||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
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