AEE pushes through key resistance level


Ameren Corporation (AEE) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team

Highlights

AEE rallies 1.53% closing $0.85 higher
AEE pushes through key resistance level
AEE dominated by bulls lifting the market higher throughout the day
AEE pushes through 20-day moving average
AEE closes higher for the 2nd day in a row

Overview

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.

Daily Candlestick Chart (AEE as at Apr 16, 2018):

Daily technical analysis candlestick chart for Ameren Corporation (AEE) as at Apr 16, 2018

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.


Market Conditions for AEE as at Apr 16, 2018

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