How will AEP react to it's results on Feb 27th? We are taking a short position on AEP before it's results.
1) There is a nice deep crab pattern on H4
2) The H4 is overbought
3) There is a double top
4) Divergence is present
This is a purely technical view and we expect the news to be bearish for AEP.
Stop loss above 84.50
Target 73.
AEP
AEP Trendline BreakNASDAQ:AEP had a nice trendline break on Thursday followed by a retracement bar giving the perfect opportunity for a trade entry.
Entry above Friday's high at 85.68
Profit target is just under the high on 4/20/21 at 90.52
Stop loss under Friday's low at 84.74
Risk/Reward ratio is 5.15
AEP long time accumulation! American Electric Power is one of the largest regulated utilities in the United States, providing electricity generation, transmission, and distribution to more than 5 million retail customers in 11 states. About 43% of AEP's of capacity is coal, with the remainder from a mix of natural gas (29%), renewable energy and hydro (18%), nuclear (8%), and demand response (2%). Vertically integrated utilities, transmission and distribution utilities, competitive transmission, and unregulated generation and marketing support earnings.
If you understand the idea,🎯 press a thumb up! 👍👍👍 Have a question? Don't be shy to ask! 🤓 Interested to study how to analyze charts, follow me!
American Electric Power - Good risk to reward stock trade idea! Looks like a good setup to go long. It may take couple of weeks to hit the target, but good wait for 1:2 risk to reward ratio.
Disclaimer: This is neither recommendation nor advise to invest/trade. This is my journal for educational purpose only
Long AEP at 86Order set to buy AEP at 86 as it breaks about the current pivot point, tight stop at around the 83.50 mark. No initial target.