Looks like AES is forming a bull flag or some sort of consolidation in the middle of a trend. It still looks strong with any downward price movement being quickly picked up by some big money.
Buying at the bottom of this consolidation range will give a trader good risk rewards.
If you don’t believe in the long term story of li.ion batteries than putting in a stop a couple ATRs below that is fine.
This can be traded or used as an investment. Whatever your style is this still looks strong and the consolidation looks healthy and poised for a continued up trend.
The high for the last 9 years was 15.65 made in 2014. With the current momentum strong the traders should be eyeing this number before taking a break.
This could be a very interesting story over the coming decade with lt.ion batteries falling in price and increasing in capacity. Installers will be very busy and AES is one of the best.
If you want to know more about the economics of li.ion batteries check out the below link to a previous report.
energy report
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