American Electric Power (AEP): Potential Head & Shoulders Pattern
American Electric Power (AEP) just flashed a death cross.
AEP is now trading below its 200DMA. It looks like it might be setting up a head & shoulders pattern.
AEP has a 4.27% weighting in XLU.
XLU is testing key support level near $34. If this area breaks this might give the bears some ammo.
The death cross (technical formation when the 50-day moving average drops below the 200-day) can be used as a filter to help narrow down the field. Next, use the Seven Steps to Better Stock Trading to evaluate the sentiment and price action. Better yet, sign up for The Select 20 Stock Picks or use my free Total Indicator for eSignal.