Tag Archives: Aegion Corp AEGN
Aegion Corp. AEGN Breakout Alert
Aegion Corp specializes in rehabilitation of sewer, water, energy, and mining piping systems. As of November 2, 2012 AEGN announced plans to buy back $5 million worth of stock, and recently received a large $30 million contract from Baltimore. Aegion’s stock closed Friday at $22.94 signaling a breakout over the most recent $22 resistance continuing its uptrend from November 2011.
The broken $22 resistance should act as new support moving forward.
Hourly chart shows a new range forming between $22.50 support and $23 resistance. Over $23 will bring more upside.
Aegion Corp AEGN
Aegion has had a great run since October 2011. Recently price respected the weekly trend line around 17.90.
Looking at over 20 for a further upside push. Target 22.
Aegion Corp. AEGN
AEGN hit some key levels this past week at around $19.00 on the weekly. Still firmly holding its uptrend from october.
Daily chart is also holding its uptrend line and looks to be ready to attempt to break the $189.97 high on 2/9/12. Tested 200MDA, rsi pointing higher, macd could be bottoming.
Hourly is stuck in a flag. Tomorrows action should give some more clues as to the direction. If a break and hold above $19.00 we could see $22.50 otherwise it should find support around $16.00
