Trading Idea for American Electric Power Company Inc. (NASDAQ)

#AEP

The overall trend is upward. The stock is trading near the lower limit of the ascending price channel. Awesome Oscillator shows a bullish divergence. The moving averages of Stochastic Oscillator are directed upwards from the oversold zone. Breaking through the resistance level of 83.07 will result in the formation of an ascending wave pattern.

Trading Idea:

Buy Above 83.07.

Stop Loss: 77.14.

Target Levels: 88.48; 94.10.