AEL has indicated in no uncertain terms that the 13/50 to 14/00 range has a very strong support. This can help the counter to move into an interesting rally. But only one thing is needed for that. That is the Volume. If you do not see volumes over a million weekly for a few weeks running the counter will be static like a rock. Look at the 20 week volume line in white at the bottom. It averages at over 2Mn weekly for the counter to really and beat the Bears. Nevertheless based on the strong support base, I suggest the trade idea given below.
Trade Idea
Buy - 14/00
Sell - 15/00 - 16/00
Stop - 13/50
Target Range is pretty narrow. But as mentioned above if the Volumes rise breaking out of 16/00 won't be hard. Hence you can use your discretion on the Targets, as long as you stick to your stop.
Please do not dilly dally on the Stop. Be bold in that. Trade as a smart trader!!! trade volumes that you can easily loose.
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