Will AMEREN CORPORATION (NYSE:AEE) Break Out? A Technical Analysis Perspective.

AMEREN CORPORATION (NYSE:AEE) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:AEE.

Zooming in on the technicals.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Taking everything into account, AEE scores 8 out of 10 in our technical rating. In the last year, AEE was one of the better performers, but we do observe some doubts in the very recent evolution.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• When comparing the yearly performance of all stocks, we notice that AEE is one of the better performing stocks in the market, outperforming 88% of all stocks. On top of that, AEE also shows a nice and consistent pattern of rising prices.
• AEE is part of the Multi-Utilities industry. There are 25 other stocks in this industry. AEE outperforms 87% of them.
• AEE is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so AEE slightly outperforms the market at the moment.
• In the last month AEE has a been trading in a tight range between 94.75 and 100.14.

Our latest full technical report of AEE contains the most current technical analsysis.

How do we evaluate the setup for AEE?

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, AEE exhibits a 8 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, AEE also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 97.53, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like AEE

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.