Swing Trading Strategies & Stock Picks Since 2003

Stock Pick of the Day

Allegheny Energy Inc)

Closing Price: $23.55

RSI: 66.54

MACD: -0.33

Allegheny Energy Inc) breached above its 20 day and 50 day MA in the same session on Thursday, as the stock gave initial confirmation of strength on charts. Allegheny Energy Inc. (AYE), which started the session with a gap-up opening, evinced strong interest from market participants, leading to high volumes in Allegheny Energy Inc. (AYE).

Utility company First Energy) earlier announced its decision to got for acquiring rival Allegheny Energy Inc. (AYE) for $4.7 billion. The acquisition by First Energy (FE) will create a company with 10 utilities, with annual revenues of $16 billion and $1.4 billion in profit.