The upward trend could come to support American Electric Power Company in the coming sessions.

The company has a strong profitability with a net margin of 9.90% in 2015. Thomson Reuters forecasts show a significant growth potential for the company, regarding sales and earnings. Moreover, analysts covering the stock target on average USD 65.2, which proves that the security still has a bullish potential.

Technically, the stock evolves in a bullish trend in the medium and long term. Prices fell in the short term, but is coming back to a significant support level at USD 57.9, that is likely to allow a technical rebound toward the USD 61.6 resistance.

Therefore, it would be opportune to open a long position on the security and target USD 61.6. The stop loss will protect the position under the support currently tested.