AES unable to break through key resistance level
The AES Corporation (AES) Technical Analysis Report for Sep 14, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, AES finished the week 3.36% higher at 13.55 after gaining $0.10 (0.74%) today. Today's closing price of 13.55 marks the highest close since August 30th. Closing above Thursday's high at 13.49, the stock confirms its breakout through the prior session's high having traded $0.15 above it intraday.
Daily Candlestick Chart (AES as at Sep 14, 2018):
Friday's trading range was $0.25 (1.87%), that's slightly above last trading month's daily average range of $0.22. Weekly volatility is also higher, being above the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 13.59, the share closed below it after spiking as high as 13.64 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After spiking up to 13.64 during the day, AES Corp found resistance at the 20-day moving average at 13.63.
Though the market is currently in a short-term down trend, this might just be a correction, as the medium and long term trends are both positive.