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Advanced TA SearchArchive
- 5/3/2024 -
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AES Corp. (AES) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a second consecutive positive week for the AES Corp. (AES). During the week, the AES gained 1.44 points, or 8.37%, and closed at 18.65 on Friday, May 3, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was 31% 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 uptrend had started on October 6, 2023 at 11.43 and reached 20.24 on December 14, 2023. AES gained -8.81 points, or -77.08%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (16.17) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 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 chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (16.09) 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 medium-term trend.
 Weekly Technical Indicators: [See AES weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 22, 2024. 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 February 27, 2024 at 14.69 and reached 19.68 on May 3, 2024. AES gained -4.99 points, or -33.97%, in 66 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 16.01 and resistance is at 20.12. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See AES daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic. 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. 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 Relative Strength Index help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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