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Possible Bullish Inside Day Candle Pattern Detected for American Electri (NYSE:AEP)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in American Electri (NYSE:AEP) based on the price action in the company's shares. Yesterday's price range of $66.69 and $67.59 is within the prior day'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. Traders and investors interested in shares of American Electri may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

American Electri share prices have moved between a 52-week high of $78.07 and a 52-week low of $57.89 and closed yesterday at 16% above that low price at $67.34 per share. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

There is potential upside of 8.1% for shares of American Electri based on a current price of $67.34 and an average consensus analyst price target of $72.82. The stock should discover initial support at its 50-day moving average (MA) of $64.47 and subsequent support at its 200-day MA of $58.99.

American Electric Power Company, Inc. (AEP) operates as a public utility holding company. The Company generates, transmits, distributes, and sells electricity to residential and commercial customers. AEP serves customers in the United States.

SmarTrend is tracking the current trend status for American Electri and will alert subscribers who have AEP in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle american electri

Ticker(s): AEP