kungfuguo
Long

AIG Weekly Chart 10/12/2013

BATS:AIG   AMERICAN INTERNATIONAL GROUP, INC. NEW
92 0 0
Another break out coming soon?

This is a continuation of a previously published chart. Looking at the weekly chart, what becomes evident is that
#1. AIG             is in a bullish trend
#2. AIG             moves up in a step-wise fashion

Despite of government shut down, AIG             was able to finish the week solidly in the positive territory.

RSI > 70 appears to be associated with progression to the next step. Based on that hypothesis, I expect that AIG             to break above $50.3, landing into the next step. This may happen as early as next week or the week after, assuming macro is intact.
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