AIG Weekly Analysis 9/7/13

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Expect break out of consolidation.

Looking at the weekly AIG             chart, AIG             has been moving up as blocks (purple boxes) of consolidation zones. Each box usually last between 9-13 weeks long, and has a well defined support and resistant levels. Each break out is usually accompanied by a peak in RSI (usually break above 70). Overall there is still positive money flow into the stock (as shown by positive CMF             20).

Taking everything together, I expect AIG             to continue this bullish trend . Looking at RSI , I expect another break out shortly (next coming week or so), as RSI is approaching 70.
There will be another extended consolidation zone, I am guessing. Need to watch RSI. Might be interesting to sell covered calls when RSI drops below 70.
looks like you were right. What next?
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