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- 5/10/2024 -
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AES Corp. (AES) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the AES Corp. (AES). During the week, the AES gained 1.29 points, or 6.92%, and closed at 19.94 on Friday, May 10, 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 (16.44) 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 20.45 on May 10, 2024. AES gained -9.02 points, or -78.92%, in 31 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (16.33) 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. 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 20.45 on May 10, 2024. AES gained -4.72 points, or -30.01%, in 23 days. The price is now at the 10.81% retracement level.
 Daily Technical Indicators: [See AES daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, 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.
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