American Electric Power (AEP) is likely to power higher in the weeks ahead.
In this chart, above, we can see a low at $52 in late June and again in early September giving us a double bottom. AEP is above its rising 50-day simple moving average. The On-Balance-Volume (OBV) line has been in an uptrend since late July.
The Moving Average Convergence Divergence (MACD) oscillator is rising and is above the zero line. Prices are pushing through their August highs and that opens up a target from the pattern of $65. Not bad.
In this longer-term chart of AEP, we can see a strong uptrend in the price chart and the On-Balance-Volume (OBV) line. The MACD oscillator is rising and prices are above the 40-week moving average.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.
Here's how traders could approach the long side of ENB.
Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation.
If you have questions, please contact us here.
Email
Email sent
Thank you, your email to has been sent successfully.
