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Ameren (AEE) Approaches New Upside Target of $34.74

Published on Tue, 06/18/2013 - 12:55
By Adrienne Chilton

Ameren (NYSE:AEE) has opened bullishly above the pivot of $34.25 today and has reached the first level of resistance at $34.46. Analysts will be watching for a cross of the next upside pivot targets of $34.74 and $35.23.

In the past 52 weeks, Ameren share prices have been bracketed by a low of $28.43 and a high of $36.74 and are now at $34.54, 21% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 0.13% lower over the past week, respectively.

There is potential upside of 5.7% for shares of Ameren based on a current price of $34.54 and an average consensus analyst price target of $36.50. The stock should hit resistance at its 50-day moving average (MA) of $35.17, as well as support at its 200-day MA of $32.94.

Ameren Corporation is a public utility holding company. The Company, through its subsidiaries, generates electricity, delivers electricity and distributes natural gas to customers in Missouri and Illinois.

By Adrienne Chilton
achilton@fnno.com

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