AES Corp

AES is advancing within a Stage 2 regime but remains in a longer-term downtrend. The medium-term higher highs and higher lows structure is intact and supported by rising EMAs, yet price is currently pressing resistance and moderately extended. Under a speculative approach, execution is best deferred, looking for a pullback into dynamic support near the 9/20 EMA zone for asymmetric entry.

• ↑Renewables EBITDA +56% YTD; Q3 2025 EBITDA $830 M (+46% YoY)
• ↑Signed 2.2 GW PPAs YTD; targeting additional 1.8 GW by end-2025
• ↓Elevated leverage heightens interest expenses and balance sheet strain