Over the last month, AEP has been trading in a range of 80.79 - 88.31, which is quite wide. It is currently trading near the high end of that range.The short-term trend is positive, while the long-term trend remains negative. So this is moving in the right direction, but it may take more time to actually reverse the trend.
Waiting for the merger in the first place is probably a good idea.
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