Aes stock price forecast shows moderate upside potential in Q3

AES stock price forecast shows moderate upside potential in Q3 2024, with analysts estimating a range of $22.50 to $24. Bad news is good news: ADP showed private payrolls fell 32,000 in September and August was revised down, well shy of forecasts for a 50,000 gain. With the shutdown likely to postpone Friday's nonfarm payrolls release and Thursday's jobless claims update, markets penciled in quarter‑point cuts at both remaining 2025 meetings. With no official employment data likely this week, Challenger's report on September layoffs will be watched more closely than usual. 📍 Ticker: NYSE:AES (AES Corporation) 📆 Timeframe: 1M (Monthly) 📉 Price: $11.48 📊 Volume: 109.4M 📈 RSI: 40.20 (Oversold rebound zone) 🔍 Technical Setup: NYSE:AES has just bounced from the lower boundary of a 30-year ascending parallel channel, a zone that has historically marked major long-term Recent momentum in the utility sector reflects defensive investor positioning amid interest rate uncertainty. Trading volume has remained stable, suggesting institutional confidence.