The Greedy Trader Weekly Analysis
Sign In Dec 2, 2022
Skip Navigation Links
Number of records: 10
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

American Electric Power (AEP)

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Price is near the Fibonacci 61.8% retracement level
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtThe price is above the upper Bollinger Band20 Day Moving Average has crossed above the 50 Day Moving AverageTrend resistance at 95.71
Move cursor over the icon to see details.

It was a seventh positive week after 4 consecutive negative weeks for the American Electric Power (AEP). During the week, the AEP gained 4.19 points, or 4.59%, and closed at 95.47 on Friday, November 25, 2022. It was the best weekly gain since August 12, 2022. AEP was trading at average weekly trading volume.

Long-term trend: [See AEP long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 65.14 and reached 105.60 on September 12, 2022. AEP gained -40.46 points, or -62.11%, in 129 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 92.93 and resistance is at 106.88. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See AEP medium-term trend chart]
A medium-term downtrend had started on September 12, 2022 at 105.60 and reached 80.30 on October 13, 2022. AEP lost 25.30 points, or 23.96%, in 4 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See AEP weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since September 23, 2022. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See AEP short-term trend chart]
A short-term uptrend had started on October 13, 2022 at 80.30 and reached 95.81 on November 25, 2022. AEP gained -15.51 points, or -19.32%, in 43 days. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (95.71). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.

Daily Technical Indicators: [See AEP daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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 17, 2022. This is an indication that the short-term trend is up.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 65.11
Williams' Percentage Range (W%R) 5.00
Strong Overbought
Lane's Stochastic (%D-Slow) 92.07
Strong Overbought
Greed/Fear Indicator (GFI) 84.05
Overbought
Moving Average Converg./Diverg. (MACD) 0.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.64
Williams' Percentage Range (W%R) 40.50
Lane's Stochastic (%D-Slow) 40.08
Greed/Fear Indicator (GFI) 48.98
Moving Average Converg./Diverg. (MACD) -1.07
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 106.88
Weekly Trendline Resistance 95.71
Price 95.47
Upper Bollinger Band 95.43
Daily Stochastic Crossing 95.35
Quarterly Trendline Support 92.93
Weekly Trendline Support 90.65
20 Day Moving Average 90.23
Parabolic System 90.01
50 Day Moving Average 89.74
Weekly Stochastic Crossing 87.08
Lower Bollinger Band 86.12
Sector and Industry
Description Name Rank
Sector Utilities 4
Industry Electric Utilities 26
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 95.21
Low Date 11/23/2022
High 95.81
High Date 11/25/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 95.71
Support 90.65
Low 80.30
Low Date 10/13/2022
High 95.81
High Date 11/25/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 105.60
High Date 09/12/2022
Low 80.30
Low Date 10/13/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 106.88
Support 92.93
Low 65.14
Low Date 03/23/2020
High 105.60
High Date 09/12/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.00
Low Date 03/31/2009
High 105.60
High Date 09/12/2022
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.

Copyright© 2004- All rights reserved.