AEP finds support at 20-day moving average
American Electric Power (AEP) Technical Analysis Report for Sep 14, 2018
AEP finished the week -0.11% lower at 72.60 after losing $0.37 (-0.51%) today. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Friday's trading range was $0.90 (1.24%), that's slightly above last trading month's daily average range of $0.82. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.
Prices are trading close to the key resistance level at 72.91. After trading as low as 71.87 during the day, American Electric found support at the 20-day moving average at 72.17.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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