AES Springs Out of Double BottomAES has been showing a constructive setup on the charts, and the latest move looks like a clear signal from the bulls. Recently, the stock broke out of a Double Bottom pattern , which is widely considered a bullish reversal structure. This pattern often marks the end of a downtrend and the start of a potential uptrend, especially when supported by volume and clear support levels.
Adding to the strength of this breakout, AES took support from a strong support zone in the range of 12.24–12.5 . This area has acted as a solid base where buyers consistently stepped in, preventing further downside. The fact that the stock respected this zone before bouncing gives extra conviction that the downside is well protected in the near term.
Now, with the breakout confirmed and buyers back in control, the next logical upside level comes in at 13.33 . This acts as the immediate price target based on the pattern’s projection and prior resistance levels.
If AES continues to hold above the breakout area, momentum could carry it higher in the short term, attracting more participants who missed the initial move. On the flip side, a sustained break back below the 12.24 zone would weaken this bullish setup.
Overall, the technical confluence of a Double Bottom breakout , strong support zone confirmation , and a clear price target of 13.33 makes AES an attractive setup to watch in the coming sessions.
