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Advanced TA SearchArchive
- 5/10/2024 -
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American Electric Power (AEP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the American Electric Power (AEP). During the week, the AEP gained 3.01 points, or 3.40%, and closed at 91.61 on Friday, May 10, 2024. Weekly volume was -21% below average.
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 September 12, 2022 at 105.60 and reached 69.39 on October 6, 2023. AEP lost 36.21 points, or 34.29%, in 55 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (62.78) 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. AEP 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 AEP medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 69.39 and reached 91.84 on May 10, 2024. AEP gained -22.45 points, or -32.35%, in 31 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (80.27) 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 AEP 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. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 16, 2024 at 79.16 and reached 91.84 on May 10, 2024. AEP gained -12.68 points, or -16.02%, in 24 days. The chart has formed a Rising Wedge chart pattern.
 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. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 19, 2024. This is an indication that the short-term trend is up.
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