AEL - UP TREND commenced

29/3/2016 to 30/3/2016 volume increased by 332k to 1.118m, a 236% volume change. Stock moved up from a close of 19.90 to a closing of 20.30. Rallying thereafter to a close of 23.40 on 12/4/2016. 15% rise.On 15/4/2016 the volumes dropped to 349k from 2.114m of 12/4/2016, leading to a change of trend. From a close of 23.70 on 15/4/2016 retraced back to a close of 22.50 on 26/4/2016. The volumes raised to 878.45k that day from 247k of the previous day..

Similar development of volume increase was witnessed on 13/5/2016 as the volumes increased to 1.519m from 240.833k from the previous day. This looks a strong bullish signal, implying a resumption of a new uptrend. I expect 24.00 to be broken one of these days.  Resistance will be at 24.90 and 25.90. I expect the 24.90 to breach and hit a nett 5% target at a price of 25.10. Then to test 25.90, and hit a nett 10% target at 26.40.
Buy at 23.40, Sell 1 = 25.10, Sell 2 = 26.40, Stop at 22.20.
Let's see how long it will take.