AQN Algonquin Power update

AQN jul 2012

Back in Nov. this looked like it was topping but there was still room from the big picture so we recommended putting in a stop-loss at $5.25, the stock then was at $6. We would now raise the stop to $6.25/$6.50. Both RSI and MACD are not confirming much further upside.

AQN , Algonquin Power & Utilities Corp.

AQN l nov 2011AQN s nov 2011

This used to be an income trust which may be why you own it. As one can see, the combination of the income trust debacle and the market meltdown in 2008 and 2009, clearly was not very kind to this company. But it has managed to climb back from the lows but, so far at least, has not been able to regain more than 40% or so of the loss. Given the way it did this, this may well be it. From the lows the stock traced out an absolutely precise a-b-c correction, followed by an irregular b-wave. This does not bode well at all. A stop-loss at around $5.25 could save the bacon without compromising the possibility of much higher levels, which I very much doubt.