Long
AET clears $100 figure
AET has been trending well, since breaking the consolidation of late 2014, with multiple bull flags.
While on the weekly chart there was a previous uptrend this stock would not have been of interest until it broke above the 2007 high of $60. Even then the trend was not linear enough for a longer-term trader. However, there were two deep pullbacks, in April and October 2014, and since retesting and clearing this zone price has become much more predictable.
From early 2015 the pullbacks have started to become less deep and more uniform - initially using the daily 50ma as support. And since February AET is finding support much closer to price action.
Now price has broken and retested the $100 figure, and proved itself to be a linear trending stock, AET offers a good buy opportunity.
While on the weekly chart there was a previous uptrend this stock would not have been of interest until it broke above the 2007 high of $60. Even then the trend was not linear enough for a longer-term trader. However, there were two deep pullbacks, in April and October 2014, and since retesting and clearing this zone price has become much more predictable.
From early 2015 the pullbacks have started to become less deep and more uniform - initially using the daily 50ma as support. And since February AET is finding support much closer to price action.
Now price has broken and retested the $100 figure, and proved itself to be a linear trending stock, AET offers a good buy opportunity.
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Twitter: twitter.com/dynamictrader
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