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Ameren (AEE) Breaks Through Support at $32.33

Published on Thu, 01/31/2013 - 10:40
By Robert Cotter

Shares of Ameren (NYSE:AEE) have bearishly opened below the pivot of $32.46 today and have reached the first support level of $32.33. Investors may be interested in a cross of the next downside pivot targets of $32.22 and $31.98.

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.

Over the past year, Ameren has traded in a range of $28.43 to $35.30 and is now at $32.35, 14% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

There is potential upside of 4.8% for shares of Ameren based on a current price of $32.35 and an average consensus analyst price target of $33.90. The stock should discover initial support at its 200-day moving average (MA) of $32.25 and subsequent support at its 50-day MA of $30.52.

By Robert Cotter
rcotter@fnno.com