American Electric Power Company Inc Stock Forecast

Stronger technical forecast for American Electric Power Company Inc stock price after Thursday trading.
(Updated on Apr 25, 2024)

AEP Signals & Forecast

The American Electric Power Company Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $84.53 and $83.56. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.24%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).

Support, Risk & Stop-loss for American Electric Power Company Inc stock

American Electric Power Company Inc finds support from accumulated volume at $85.19 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.05 (2.41%) between high and low. For the last week, the stock has had daily average volatility of 2.18%.

Since the American Electric Power Company Inc has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.

Our recommended stop-loss: $83.99 (-3.30%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)

Trading Expectations (AEP) For The Upcoming Trading Day Of Friday 26th

For the upcoming trading day on Friday, 26th we expect American Electric Power Company Inc to open at $86.40, and during the day (based on 14 day Average True Range), to move between $85.16 and $88.56, which gives a possible trading interval of +/-$1.70 (+/-1.96%) up or down from last closing price. If American Electric Power Company Inc takes out the full calculated possible swing range there will be an estimated 3.92% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $85.19, some $1.67 (1.92%) from the current price of $86.86, our system finds the risk reward attractive.

Is American Electric Power Company Inc stock A Buy?

American Electric Power Company Inc holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.

Current score: 6.952 Strong Buy Candidate Upgraded

Predicted Opening Price for American Electric Power Company Inc of Friday, April 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.