American Electric (AEP) – Bullish DailyPlay for Friday August 31st, 2018

The bullish DailyPlay we chose for Friday, Aug 31st is American Electric (AEP). AEP is part of the Utilities Sector (XLU). Over the last month, XLU has experienced a 2.38% move higher and its 1m and 6m trend has turned bullish on 8/29 while bouncing higher off its $53 support level.

American Electric’s 1m and 6m trends turned bullish on 8/29 and is starting to break above its $72 resistance level. With a technical score of 7 (out of 10), AEP is a strong bullish stock that will likely continue higher.

View this Trade Idea on AEP

As a stop loss, if AEP was to trade below $70 for multiple days, this would invalidate our analysis and suggest getting out of the trade.