March 5, 2013 (by Frank Kollar)
Shares of AES Corp (NYSE: AES) broke above and closed above a rising trend channel that has contained prices since December 2012.
AES Corporation is a Fortune 200 company, providing affordable, sustainable energy to 25 countries through a diverse portfolio of distribution businesses as well as thermal and renewable generation facilities.
This breakout should power share prices at least to the $13.00 level over coming weeks.
Chart Courtesy of StockCharts.com
At the $13.00 level, shares will hit resistance as these were the highs reached in the summer of 2012.
However, if AES can close decisively above $13.00, we could easily see a continued rally all the way to $14.00 a share.
The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy does have a position in AES Corp.
Disclosure: I am long AES.