Aegion AEGN Technical Breakout
Aegion Corp specializes in rehabilitation of sewer, water, energy, and mining piping systems. As of November 2, 2012 AEGN has bought back $5 million worth of stock, as well as, receiving a large $30 million contract from Baltimore. Aegion’s stock closed Friday at $22.94 signaling a breakout over the most recent $22 resistance continuing its uptrend from November 2011.
The broken $22 resistance should act as new support moving forward.
Hourly chart shows a new range forming between $22.50 support and $23 resistance. Over $23 will bring more upside.
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