Tag Archives: Aegion Corp AEGN
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.
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