AEE pushes through key resistance level

Ameren Corp (AEE) Technical Analysis Report for Apr 16, 2018

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

TQ Sentiment

Report Sentiment: 75% Bullish
Technical Forecast:

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 chart for AEE

Volatility

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.

Support/Resistance

Breaking through the key resistance level at 55.96 today, it is now likely to act as support going forward.

Trend

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.

Conclusion

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 Win Rate 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
More market conditions identified for TQ Pro members...
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AEE finds buyers at key support level

Sep 17, 2018
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