AES keeps trending up
Throughout February, AES – AES Corp. – traded in a narrow range, in the blue box. Eventually price reached its 10- and 20-day exponential moving averages. At the same time, the low volatility caused the Bollinger Bands to narrow down.
In the last three sessions, however, price action indicates that AES may break up and above the narrow range. Price in fact already reached the upper Bollinger Band, and in the next sessions we will see whether the bulls are strong enough to push price higher.
AES’s Relative Strength is already moving up and away from its 20-day exponential moving average, which is also clopping up.