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- 11/24/2023 -
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AES Corp. (AES) Technical Analysis
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|It was the negative week for the AES Corp. (AES). During the week, the AES gave back -0.08 points, or -0.47%, and closed at 16.93 on Friday, November 24, 2023. Weekly volume was -25% below 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 Broadening Descending Wedge chart pattern. The trend support level is at 8.41 and resistance is at 18.40. 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 uptrend had started on October 6, 2023 at 11.43 and reached 17.27 on November 15, 2023. AES gained -5.84 points, or -51.09%, in 5 weeks. The price is now at the 5.82% retracement level.
Weekly Technical Indicators: [See AES weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. 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 November 15, 2023 at 17.27 and reached 16.63 on November 21, 2023. AES lost 0.64 points, or 3.71%, in 6 days. The price is now at the 46.88% retracement level.
Daily Technical Indicators: [See AES daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since October 13, 2023. The distance between MACD and the signal line is low and getting smaller.