AEP all-time high breakoutAEP looks good above 105 with the first price target being 125. Stop out below 102.
AEP trade ideas
Next bullish impulse aheadBuy stop order placed. On the last trading day the downward correction could be finished with the creation of this hammer candle. If the price breaks the Thursday's daily high we can expect the next bullish impulse to take place. This should last as well for a couple of days.
Meanwhile, all the moving averages are still bullishly aligned, indicating that the price could be ready for another move.
How will AEP react to it's results on Feb 27th? We are taking a short position on AEP before it's results.
1) There is a nice deep crab pattern on H4
2) The H4 is overbought
3) There is a double top
4) Divergence is present
This is a purely technical view and we expect the news to be bearish for AEP.
Stop loss above 84.50
Target 73.
AEP shortPosition: Short
Entry Price: $86.54
Target Price : $77.26
Stop loss: $89.53
RSI is downward-sloping after having touched its resistance level of 70, threshold for overbought stock
STOCH signals an overbought stock
ADX is around 20 but D+ line is now downward sloping, after being been above D- since the segment DC started
The pattern respects the Fibonacci levels of the bearish cipher pattern. RSI has reached its resistance level of 70 and is now downward sloping, confirming the trend. The stock is in the utility sector, which has showed good 1-week and 1-month performance, but the relative strength indicator shows this stock is performing worse than the S&P500. A market order is suggested, with stop loss at resistance level and profit target at the support level already tested multiple times.
No financial advice.
AEP - 4 months HEAD & SHOULDERS══════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
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Hello Traders ✌
After a careful consideration I came to the conclusion that:
- it is crucial to be quick in alerting you with all the opportunities I spot and often I don't post a good pattern because I don't have the opportunity to write down a proper didactical comment;
- since my parameters to identify a Classical Pattern and its scenario are very well defined, many of my comments were and would be redundant;
- the information that I think is important is very simple and can easily be understood just by looking at charts;
For these reasons and hoping to give you a better help, I decided to write comments only when something very specific or interesting shows up, otherwise all the information is shown on the chart.
Thank you all for your support
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
Could this AEP trade pay off?Can AEP catch a bounce of its 3Month EMA?
Poised a nice looking DOGI Shooting star whilst buying back up above its moving average.
A nice looking ratio from the bottom of the wick to the 0.5 retracement. Also having confluence with the 2nd Standard deviation of its long term regression trend.
Mind you utilities maybe expected to overperform for the next coming weeks. Hopefully that of which concludes with a incline of certain companies share prices.
A nice double bottom with a above 3% retest, whilst a push up above and a quick retest of the long term moving average. This is a picture perfect setup.
AEP BullishPrice recently closed above the .78 fibonacci level and the most recent candle managed to hold that level.
The OBV confirms the recent price action.
The D+ crossed D- on the ADX on 9/1 and the MACD is currently crossing.
AEP has a negative correlation coefficient of -0.5880 (1 year) in relation to the SPY so despite the possible double top formation I am inclined to take a shot at this as S&P futures cratered premarket after the inflation report.
Tight 1 ATR stop: 103.38 (.61 Fibonacci level)
Target: 108.87
FlagThis flag needs to break if it is planning on doing so (o: The flag is n the verge of becoming too heavy for the pole to support. Compare Flag 1 to Flag 2. Flag 1 has a nearly straight pole to the upside and the flag pole more than adequately supports the weight of that flag.
Pocket pivots (green triangles) are in abundance on the pole.
The flag is a Bull Flag as it has a pole to the upside. This would be recent Bull Flag number 2.
A flag or pennant in neutral until the top or bottom trendline is broken.
As a rule, volume decreases during flag formation, but high volume on the break of the trendline is important.
No recommendation but I do own this stock.
Be safe/Laura
AEP: Classic range bound playAEP has been trapped in a range for quite some time and there is little reason to think it will break it. The bollinger bands set to 80 are really good to find the best entry for this kind of play. Ideally one could enter a short here (i use CFDs with no commissions) and exit on the basis (the middle line between the bands).
AEP is in the middle of a sideways channelMy view on AEP is currently neutral. It has been trading sideways the last couple of months and currently seems to be between a support and resistance zone. Trading this stock seems risky at the moment since it's a bit hard to tell what will happen in the next couple of days/weeks. My suggestion here would be to hold off on investing for now. Feel free to share your input on this quick idea, any feedback whether positive or negative is always appreciated. Happy holidays everyone!
