AEP - new trade

Luke 3:5 "Every valley shall be filled in, every mountain and hill made low.  The crooked roads shall become straight, the rough ways smooth."

Here's the chart of AEP:

After about a month pull back, AEP recently made a higher high and a higher low.  Today was my entry.  In addition to a close above the high of the low day, check out these three things:

1.  The 20 and 50 day moving averages are below the opening and closing price of today's movement.  This of these are "pushing" the stock price up.

2.  The stochs were low and the black line just crossed up above the red line.

3.  The MACD lines look like they are starting to flatten out after going down.  Next move should be up for these lines.

4.  The MACD histogram getting more bullish.

In addition to the items above, I also like the look of the overall markets for a bullish trade:

The main thing to consider in these overall markets is the fact that they ALL have made higher highs today.  This is not to say that we're off to the moon now, quite the opposite - we'll probably get a pullback in the markets very soon.  ESPECIALLY since we have a 3 day holiday weekend coming up.  The big boys don't like being in the market over a long weekend, so I'm anticipating a pullback either tomorrow or Friday.

With that said, however, I still want to be in this AEP trade because I've got my edge and I'm taking it.  It could hit tomorrow, or a week from tomorrow after the holiday weekend. We'll see how it plays out.

Let's make some money.