The following is technical analysis on American Intl Group, Inc. (AIG) stock for 9/21/09American Intl Group, Inc. (AIG) Support & Resistance Levels - September 21, 2009
Resistance Levels: $43.75, $45, $47.50
Support Levels: $40, $39.08, $38.00, $35.50
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American Intl Group, Inc. (AIG) has been subject to three downgrades over the past three weeks, all with price targets between $10-$15 yet AIG continues to hover around $40. What are they missing? Why does AIG continue to have strong technicals but so called horrible fundamentals?
AIG continues to trade over the 10 day moving average, a very bullish technical indicator. The 50 day moving average is breaking up through the 200 day moving average as we speak, something that hasn't happened in over a year. I am watching the $41.29 high from last week. When AIG breaks above $41.29, I plan to get back into the stock. Keep an eye on the $43.05 & $43.73 highs from Sept. If AIG breaks up through those, you know the stock is ready to resume the uptrend. For More Technical Analysis - Go Here
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