AEIS - Handle ContinuationLooking for short term continuation within a cup and handle structure.
Price is already within the handle and looks for more up movement before the handle structure breaks and price falls.
The up move could be considered to form a W pattern which I have shown with the bars pattern tool.
AEIS
AEIThe stock surged in the final hour of trading and closed back over 10.30. The real fireworks should begin if Alset Ehome International Inc (NASDAQ:AEI) can close above $10.70. With its low float and the company already bringing value into these shares, at some point the share price will break out. The daily MACD is starting to curl upward which should eventually lead to price increases. That bodes well for a breakout.
AEIS, MACD Histogram just turned positiveThis is a Bullish indicator signaling AEIS's price could rise from here. Traders may explore going long the stock or buying call options. Tickeron A.I. dvisor identified 47 similar cases where AEIS's MACD histogram became positive, and 39 of them led to successful outcomes. Odds of Success: 83%. Current price $63.33 crossed the support line at $62.79 and is trading between $64.45 support and $62.79 support lines. Throughout the month of 08/26/20 - 09/28/20, the price experienced a -18% Downtrend, while the week of 09/21/20 - 09/28/20 shows a +6% Uptrend.
Bullish Trend Analysis
The RSI Oscillator points to a transition from a downward trend to an upward trend -- in cases where AEIS's RSI Oscillator exited the oversold zone, 17 of 23 resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 74%.
The Stochastic Indicator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. Tickeron A.I. detected that in 41 of 48 cases where AEIS's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 81%.
The Moving Average Convergence Divergence (MACD) for AEIS just turned positive on September 28, 2020. Looking at past instances where AEIS's MACD turned positive, the stock continued to rise, Tickeron A.I. shows that in 39 of 47 cases over the following month. The odds of a continued upward trend are 83%.
Following a +4.13% 3-day Advance, the price is estimated to grow further. Considering data from situations where AEIS advanced for three days, in 281 of 351 cases, the price rose further within the following month. The odds of a continued upward trend are 80%.
$AEIS Breaks Out, Further Gains Likely$AEIS has broken out to the upside above the critical resistance line of $60 a share. Swing traders can look to take a position and use a stop loss of a daily close below $60.
About $AEIS
Advanced Energy Industries, Inc., together with its subsidiaries, designs, manufactures, sells, and supports power conversion, measurement, and control solutions. It offers process power solutions, including direct current (DC), pulsed DC, low frequency alternating current, high voltage, and radio frequency (RF) power supplies, as well as RF matching networks and remote plasma sources for reactive gas applications and RF instrumentation. The company also provides power control modules and thermal instrumentation products for rapid thermal processing, chemical vapor deposition, crystal growing, and other semiconductor and adjacent thin film applications, as well as in chemical processing, metal and glass manufacturing, and other general industrial power applications; and high voltage products for semiconductor wafer processing and metrology, electrostatic clamping of substrates, scientific instrumentation, mass spectrometry, and analytical X-ray systems for industrial and analytical applications. In addition, it offers gas detection and monitoring products for the automotive, energy, environmental control, aerospace, medical, and research industries; and MIL-COTS power supplies for radar systems, communications equipment, and test and measurement equipment. Further, the company provides amplifiers, generators, and electrostatic discharge sensors and monitors; electrostatic detection and measurement instrumentation products; and photonic-based measurement and monitoring solutions. In addition, it offers repair services, conversions, upgrades, and refurbishments and used equipment to companies. The company offers its products through direct sales force, independent sales representatives, and distributors in North America, Europe, and Asia. Advanced Energy Industries, Inc. has a collaboration agreement with the University of Colorado Boulder. The company was founded in 1981 and is headquartered in Fort Collins, Colorado.
As always, trade with caution and use protective stops.
Good luck to all!