Possible Bearish Inside Day Candle Pattern Detected for Ameren (NYSE:AEE)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Ameren (NYSE:AEE) based on the price action in the company's shares. Today's price range of $48.49 and $48.87 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Ameren may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Ameren share prices have moved between a 52-week high of $54.08 and a 52-week low of $37.26 and are now trading 31% above that low price at $48.67 per share. The 200-day and 50-day moving averages have moved 0.43% higher and 0.35% higher over the past week, respectively.
Ameren (NYSE:AEE) defies analysts with a current price ($48.67) 5.0% above its average consensus price target of $46.25. The stock should discover initial support at its 50-day moving average (MA) of $48.36 and subsequent support at its 200-day MA of $44.17.
Ameren Corporation is a public utility holding company. The Company, through its subsidiaries, generates electricity, delivers electricity and distributes natural gas to customers in Missouri and Illinois.
SmarTrend is tracking the current trend status for Ameren and will alert subscribers who have AEE in their portfolio or watchlist when shares have changed trend direction.
Keywords: bearish inside day candle ameren