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American Electri (AEP) Breaks Through Support at $97.36

By Shiri Gupta

Shares of American Electri (NYSE:AEP) have bearishly opened below the pivot of $96.66 today and have reached the first support level of $97.36. Analysts will be watching for a cross of the next downside pivot targets of $96.22 and $95.78.

Based on a current price of $96.62, American Electri is currently 23.6% above its average consensus analyst price target of $73.78. The stock should find initial support at its 50-day moving average (MA) of $92.20 and further support at its 200-day MA of $89.99.

In the past 52 weeks, shares of American Electri have traded between a low of $72.95 and a high of $96.22 and are now at $96.62, which is 32% above that low price. The 200-day and 50-day moving averages have moved 0.17% higher and 0.05% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of American Electri on November 20th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $91.11. Since that recommendation, shares of American Electri have risen 4.3%. We continue to monitor AEP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts american electri

Ticker(s): AEP