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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Breakout For AES Corp (NYSE: AES),  0 comments
    Mar 4, 2013 4:00 PM | about stocks: AES

    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.

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