Ameren Bullish Engulfing Formed

aee New York, July 10th (TradersHuddle.com) - Shares of Ameren Corporation (NYSE:AEE) ended the trading session lower by $0.49 or -1.42% from its previous close. Ameren's price action formed what is considered to be a bullish engulfing candle that could very well signal a continuation of trend or reversal of the ongoing weakness.

Ameren Corporation (NYSE:AEE) through its subsidiaries, generates and delivers electricity in Missouri and Illinois. . The utility also distributes to its customers Natural Gas.

Ameren's recent stock range was formed by a trough where calculated support was defined at $32.34 and by a peak that established the resistance level at $34.67. This range could be used by traders managing their positions.

Traders wanting to establish a position in Ameren or traders that are already holding the stock can use the bullish engulfing pattern to their advantage. The pattern provides a defined risk, as it shows where the bears were able to push the stock down, before the bulls step in with a bid.

The bullish engulfing pattern is a leading indicator that provides an alert to the bulls that the trend will continue or that there is an immediate reversal to the short-term weakness seen on the stock. Below an Engulfing Bullish Candle Illustration:

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,810.06 ▲91.06 (0.51%)
o S&P 500 2,063.50 ▲10.75 (0.52%)
o NASDAQ 4,712.97 ▲11.10 (0.24%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,810.06 Trade time:4:33PM EST Value change:▲91.06 (0.51%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,063.50 Trade time:4:33PM EST Value change:▲10.75 (0.52%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,712.97 Trade time:5:15PM EST Value change:▲11.10 (0.24%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.