Today, shares of American Electric Power (NYSE:AEP) have crossed bullishly above their 10-day moving average of $47.76 on a volume of 525K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.
American Electric Power (NYSE:AEP) is currently priced 1.0% above its average consensus analyst price target of $47.53. The stock should find initial support at its 50-day moving average (MA) of $45.72 and further support at its 200-day MA of $43.34.
Over the past year, American Electric Power has traded in a range of $36.97 to $48.23 and is now at $48.00, 30% above that low. The 200-day and 50-day moving averages have moved 0.32% higher and 0.58% higher over the past week, respectively.
American Electric Power Company, Inc.(AEP)is a public utility holding company. The Company provides electric service, consisting of generation, transmission and distribution, on an integrated basis to their retail customers. AEP serves portions of the states of Arkansas, Indiana, Kentucky, Louisiana, Michigan, Ohio, Oklahoma, Tennessee, Texas, Virginia and West Virginia.