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Downtrend Broken Resist.Archive
- 5/6/2022 -
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American Electric Power (AEP) |
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| Summary:
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| | It was a first positive week after 3 consecutive negative weeks for the American Electric Power (AEP). During the week, the AEP climbed 0.54 points, or 0.54%, and closed at 99.65 on Friday, May 6, 2022. AEP was trading at average weekly trading volume.
AEP 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 AEP long-term trend chart]
A long-term downtrend had started on February 4, 2020 at 104.97 and reached 65.14 on March 23, 2020. AEP lost 39.83 points, or 37.94%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (87.17) is broken. A broken support is considered to be a long-term bullish signal. 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 AEP medium-term trend chart]
A medium-term uptrend had started on February 26, 2021 at 74.80 and reached 104.81 on April 6, 2022. AEP gained -30.01 points, or -40.12%, in 57 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (85.21) 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 medium-term trend.
 Weekly Technical Indicators: [See AEP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 17, 2021. This is an indication that the medium-term trend is up. 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 December 1, 2021 at 80.22 and reached 104.81 on April 6, 2022. AEP gained -24.59 points, or -30.65%, in 126 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 88.18 and resistance is at 110.12. 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 AEP daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 13, 2022.
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