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Uptrend Support

Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

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- 3/15/2024 -
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AES Corp. (AES) Technical Analysis

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Summary:
Weekly :Oversold sectorLane's Stochastic is oversold
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the AES Corp. (AES). During the week, the AES dropped -1.24 points, or -7.63%, and closed at 15.01 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was 62% above average.

AES is a member of Utilities Sector. Utilities is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AES long-term trend chart]
A long-term downtrend had started on December 13, 2022 at 29.89 and reached 11.43 on October 6, 2023. AES lost 18.46 points, or 61.76%, in 42 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 1.65 and resistance is at 17.22. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See AES medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 20.24 and reached 14.69 on February 27, 2024. AES lost 5.55 points, or 27.42%, in 10 weeks. The price is now at the 5.77% retracement level.

Weekly Technical Indicators: [See AES weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since February 23, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See AES short-term trend chart]
A short-term downtrend had started on March 5, 2024 at 17.18 and reached 14.86 on March 14, 2024. AES lost 2.32 points, or 13.50%, in 9 days. The price is now at the 6.47% retracement level.

Daily Technical Indicators: [See AES daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.87
Williams' Percentage Range (W%R) 85.10
Oversold
Lane's Stochastic (%D-Slow) 33.19
Greed/Fear Indicator (GFI) 29.97
Moving Average Converg./Diverg. (MACD) -0.29
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.05
Williams' Percentage Range (W%R) 77.40
Lane's Stochastic (%D-Slow) 18.15
Oversold
Greed/Fear Indicator (GFI) 26.29
Moving Average Converg./Diverg. (MACD) -0.64
Trading Signals
Description Value Chart
Yearly Trendline Resistance 17.22
Parabolic System 17.15
Upper Bollinger Band 17.00
50 Day Moving Average 16.70
20 Day Moving Average 15.85
Daily Stochastic Crossing 15.32
Weekly Stochastic Crossing 15.23
Price 15.01
Lower Bollinger Band 14.85
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 24
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 17.18
High Date 03/05/2024
Low 14.86
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 17.18
High Date 03/05/2024
Low 14.86
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.69
Low Date 02/27/2024
High 17.18
High Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 20.24
High Date 12/14/2023
Low 14.69
Low Date 02/27/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 17.22
Support 1.65
High 29.89
High Date 12/13/2022
Low 11.43
Low Date 10/06/2023
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.