The Greedy Trader Weekly Analysis
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S&P 500 Oversold Stocks

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- 5/17/2024 -
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AES Corp. (AES) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Lane's Stochastic is overboughtRelative Strength Index and Williams' Percentage Range are strongly overboughtLane's Stochastic and MACD bearish divergence
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It was a fourth consecutive positive week for the AES Corp. (AES). During the week, the AES gained 1.34 points, or 6.72%, and closed at 21.28 on Friday, May 17, 2024. Weekly volume was 29% above average.

AES is a member of Utilities Sector. Utilities is the most overbought 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 Symmetric Triangle chart pattern. The downtrend resistance line (16.61) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. AES may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See AES medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 11.43 and reached 21.60 on May 16, 2024. AES gained -10.17 points, or -88.98%, in 31 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (16.50) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See AES weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 22, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See AES short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 15.73 and reached 21.60 on May 16, 2024. AES gained -5.87 points, or -37.32%, in 29 days. The price is now at the 5.45% retracement level.

Daily Technical Indicators: [See AES daily technical indicators chart]
Daily Lane's Stochastic is overbought while Relative Strength Index and Williams' Percentage Range are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Relative Strength Index and Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since April 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 91.11
Strong Overbought
Williams' Percentage Range (W%R) 9.20
Strong Overbought
Lane's Stochastic (%D-Slow) 89.58
Overbought Bearish
Greed/Fear Indicator (GFI) 90.49
Strong Overbought
Moving Average Converg./Diverg. (MACD) 0.79 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.17
Williams' Percentage Range (W%R) 7.20
Strong Overbought
Lane's Stochastic (%D-Slow) 73.83
Bearish
Greed/Fear Indicator (GFI) 77.32
Moving Average Converg./Diverg. (MACD) -0.27 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 22.07
Daily Stochastic Crossing 21.33
Price 21.28
Monthly Trendline Resistance 20.82
Weekly Stochastic Crossing 20.60
Parabolic System 20.38
20 Day Moving Average 18.90
Quarterly Trendline Resistance 17.99
50 Day Moving Average 17.57
Lower Bollinger Band 16.37
Sector and Industry
Description Name Rank
Sector Utilities 12
Industry Electric Utilities 119
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 15.73
Low Date 04/17/2024
High 21.60
High Date 05/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.73
Low Date 04/17/2024
High 21.60
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 20.82
Support 16.32
Low 14.69
Low Date 02/27/2024
High 21.60
High Date 05/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 17.99
Support 16.50
Low 11.43
Low Date 10/06/2023
High 21.60
High Date 05/16/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 16.18
Support 16.61
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.