• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing

Power Company AES' Charts Show Some Spark

Here are the next targets for this energy name that just posted quarterly earnings, got an upgrade.
By BRUCE KAMICH
Nov 07, 2022 | 12:12 PM EST
Stocks quotes in this article: AES

Shares of power company AES Corp. ( AES)  were upgraded Monday by Thestreet.com's quantitative service, following the company's recent quarterly earnings beat. Let's also check the charts of AES to combine two and three major investment approaches (fundamentals is the third leg of the stool).  
 
In this daily bar chart of AES, below, we can see a wide-swinging sideways move the past 12 months. Dips down to the $19 area have been bought while rallies up to the $26-$28 area have failed. In the latest rally of AES we have pushed prices back above the rising 50-day moving average line and the rising 200-day moving average line. The On-Balance-Volume (OBV) line shows us a decline to the middle of October telling us that sellers of AES were more aggressive than  buyers. From October we are seeing the beginning of a shift to more aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator has moved back above the zero-line for a new outright-buy signal. 
 
 
 
In this weekly Japanese candlestick chart of AES, below, we can see a large upper level base pattern. Prices appear to have made an inverse head-and-shoulders pattern, which is playing out as a continuation pattern (this is discussed in my book on chart patterns). Prices are above the rising 40-week moving average line. The weekly OBV line shows a low back in February. The MACD oscillator is in a bullish alignment above the zero-line. 
 
 
In this daily Point and Figure chart of AES, below, we can see a potential price target in the $33 area. 
 
 
In this second Point and Figure chart of AES, below, we used weekly price data. Here we see a target in the $44 area. 
 
 
 
Bottom line strategy: A quantitative upgrade and bullish charts sound like a good combination to me. Traders could go long AES at current levels risking to $23. $33 and then $44 are our price targets. 
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: Investing | Technical Analysis | Utilities | Quant Ratings

More from Investing

Don't Just Sit There and 'Hope' for Your Stocks, Make a Decision

James "Rev Shark" DePorre
May 27, 2023 10:00 AM EDT

The biggest investing and trading mistake that people make is that they don't have a plan.

3 High-Yield International Oil & Gas Majors

Bob Ciura
May 27, 2023 7:15 AM EDT

The top global energy names are returning more cash to shareholders through dividends and share repurchases.

Nvidia Caught Traders Off Guard, Will Debt News Do the Same Soon?

James "Rev Shark" DePorre
May 26, 2023 4:57 PM EDT

We got a broad rally on Friday after a week of narrow action -- but once the debt ceiling news hits, the market will go on to the next stage of action.

Here's What Should Recharge Tesla's Rally

Bruce Kamich
May 26, 2023 3:45 PM EDT

I have a new price target for now.

Let's See How Ulta Looks in the Mirror After Earnings

Bruce Kamich
May 26, 2023 2:30 PM EDT

The shares are down sharply after the retailer reported its latest earnings.

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

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 09:48 AM EDT CHRIS VERSACE

    Latest AAP Podcast With Portillo's CEO!

    Listen in as we talk with a rising star in the Chi...
  • 03:25 PM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    Don't Just Sit There and 'Hope' for Your Stocks, M...
  • 07:32 AM EDT BOB LANG

    Webinar Thursday After the Close: Option Spread Trading

    Thursday, my good friend and colleague Sam DeMarco...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login