• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Amer Equity Invt (NYSE:AEL)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Amer Equity Invt (NYSE:AEL) based on the price action in the company's shares. Yesterday's price range of $18.49 and $20.18 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. Owners of Amer Equity Invt may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Amer Equity Invt have traded between a low of $9.07 and a high of $34.16 and closed yesterday at $18.85, which is 108% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.2% while the 50-day MA has declined 4.7%.

There is potential upside of 79.0% for shares of Amer Equity Invt based on a current price of $18.85 and an average consensus analyst price target of $33.75. Amer Equity Invt shares should first meet resistance at the 50-day moving average (MA) of $24.90 and find additional resistance at the 200-day MA of $25.79.

American Equity Investment Life Holding Company develops, markets, issues, and administers annuities and life insurance products through its subsidiaries. The Company is a full-service underwriter of an array of annuity and insurance products, and is licensed to sell its products throughout the United States.

SmarTrend is monitoring the recent change of momentum in Amer Equity Invt. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Amer Equity Invt in search of a potential trend change.

Keywords: bearish am inside day candle amer equity invt

Ticker(s): AEL