The following is technical analysis on American International Group ( AIG ) stock for March 23, 2009.AIG Support & Resistance Levels - 3/23/09
Resistance Levels: $2.00, $2.12
Support Levels: $1.06, $1.00
AIG remains over the 50 day moving average...something that hasn't happened for a long time. AIG has support around the $0.96-$1.00 level, a close below $0.96 would be viewed as bearish and the 10 day moving average would be tested. At this point, I am watching both the 10 and 50 day moving averages closely. If AIG can hold these two moving averages on a closing basis this week, I think we could see another retest of $2.00 soon. I couldn't help but notice the huge buying last week in AIG stock...it wasn't all short covering! A break above $2.00 would be huge and American International Group could rise to the next major resistances at $2.12 and $2.84. I will have more chart updates this week. For More Technical Analysis - Go Here
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