American Electric Power Co. Inc

By root | December 09, 2007 AAA

For today's chart we've chosen to take a look at American Electric Power Co. (NYSE:AEP) because it has recently moved beyond the resistance of an ascending triangle pattern. As you can see from the chart below, this bullish continuation pattern has been forming since early August and the move above the $48.75 mark is now suggesting that we could see a move higher. Ideally, we would have liked to see a surge in volume, which was not the case, because it would be used to confirm that other traders share the same outlook. Given the lack of confirming indicators it will take a couple more days to determine the short-term direction.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Analysis
  1. Chart Advisor

    Invest in Japan with this ETF

  2. Charts & Patterns

    How to Analyze Pharma Stock Fundamentals

  3. Chart Advisor

    Bullish Traders Are Turning To Rare Earth Metals

  4. Chart Advisor

    Long and Short Trades to Consider This Week

  5. Stock Analysis

    Is Now The Time to Buy Micron Technology Stock?

Trading Center