flapbreaker
Long

AIG - Up or Down?

NYSE:AIG   AMERICAN INTL GROUP INC
aig
91 2 1
aig
Trying to figure out where this thing is headed. My guess is up as long as they keep executing their plan and improving their matrix.
The market always moves from support lost to support gained and back again. To determine future price action, look at All, 5y, 1y, 6mo, down to the day. Since it got crushed from ~2100 in 2009, we can discount the "all" option. The 1mo bars from 2009-present show relatively flat trading in a slight uptrend. From here, I'd say that we have room to move up to the last area of major support lost (resistance) at around 62 from 2011-01-03, but that will take a while. In the nearer term, expect a spike back up to around 53 and possibly through it on a symmetrical triangle that is forming right now on the 1d chart, with the lower line of the triangle formed by the 1-year and 6-month ascending support line.
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Thanks for your input. I keep hearing how cheap AIG is but I don't trust the talking heads because they seem to want to sell retail their bag of poop. I do think AIG is compelling long term though.
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