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Daily MACD Divergence:Bearish
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Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.

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- 2/23/2024 -
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Ameren Corporation (AEE) Technical Analysis

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Summary:
Weekly :Oversold sectorLane's Stochastic is oversold
Daily :Lane's Stochastic is overboughtPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Ameren Corporation (AEE). During the week, the AEE gained 2.09 points, or 3.01%, and closed at 71.60 on Friday, February 23, 2024. It was the best weekly gain since November 3, 2023. Weekly volume was 54% above average.

AEE 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 AEE long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 99.20 and reached 67.03 on February 13, 2024. AEE lost 32.17 points, or 32.43%, in 94 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 42.51 and resistance is at 80.68. 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 AEE medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 82.09 and reached 67.03 on February 13, 2024. AEE lost 15.06 points, or 18.35%, in 8 weeks. The price is now at the 30.35% retracement level.

Weekly Technical Indicators: [See AEE 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 December 15, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See AEE short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 67.03 and reached 72.38 on February 23, 2024. AEE gained -5.35 points, or -7.98%, in 10 days. The price is now at the 14.58% retracement level.

Daily Technical Indicators: [See AEE daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since January 29, 2024. This is an indication that the short-term trend is up.

During the last week, the price has moved above 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.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.35
Williams' Percentage Range (W%R) 26.90
Lane's Stochastic (%D-Slow) 85.06
Overbought
Greed/Fear Indicator (GFI) 73.16
Moving Average Converg./Diverg. (MACD) -0.62
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.28
Williams' Percentage Range (W%R) 74.00
Lane's Stochastic (%D-Slow) 15.76
Oversold
Greed/Fear Indicator (GFI) 28.52
Moving Average Converg./Diverg. (MACD) -2.68 Bullish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 80.68
Upper Bollinger Band 72.07
Daily Stochastic Crossing 71.63
Price 71.60
50 Day Moving Average 71.24
20 Day Moving Average 69.47
Weekly Stochastic Crossing 68.44
Parabolic System 68.35
Lower Bollinger Band 67.92
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Multi-Utilities 12
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 67.03
Low Date 02/13/2024
High 72.38
High Date 02/23/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 67.03
Low Date 02/13/2024
High 72.38
High Date 02/23/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 82.09
High Date 12/14/2023
Low 67.03
Low Date 02/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 92.44
High Date 12/13/2022
Low 67.03
Low Date 02/13/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 80.68
Support 42.51
High 99.20
High Date 04/21/2022
Low 67.03
Low Date 02/13/2024
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.