I don't care if you call it a rounded bottom or a saucer bottom or just a bottom, but it is a nice-looking chart. Check out Action Alerts PLUS holding American Electric Power (AEP).
In this chart of AEP, above, you have a good-looking chart for those who have crossed over to the dark side of technical analysis. Plus, you have the more objective, math-driven indicators as positive. Prices are above the 50-day and 200-day moving averages, and their slopes are positive. The On-Balance-Volume (OBV) line has been moving up since July, telling us that the buyers are more aggressive. The Moving Average Convergence Divergence (MACD) oscillator is above the zero line.
The base pattern in 2015 in the short-term chart is a high-level consolidation in this longer-term chart, above. The technical condition of AEP on a weekly scale is also bullish. Prices are above the 40-week moving average. The MACD oscillator just turned up above the zero line. Short term and longer term, AEP is a technical buy.
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Here's how traders could approach the long side of ENB.
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