AES Corp

AES remains in a Stage 2 advancing trend within a longer-term uptrend, exhibiting repaired structure and primary continuation via higher highs and higher lows. Price is tightly tracking the rising EMAs, indicating bullish timing conditions. Under a speculative approach, we favor participation upon consolidation resolution and breakout of the narrow range, targeting dynamic support near the 9/21EMA 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