AIG - breaking down below uptrends, running out of support
Note a perfect rejection off thick yellow down-trend line today at 63.65. Would short until it closes above the thick yellow trendline.
Note the loss of the thick pink up trendline, closing below it 3 days in a row is significant, as it was established from April 19th. Regaining this position will coincide with climbing out of the yellow downtrend established.
Look to 61.00 to 61.50 for buying opportunities (GREEN). Likely to fall-off-the-grid if it closes below green trendline.
Note the loss of the thick pink up trendline, closing below it 3 days in a row is significant, as it was established from April 19th. Regaining this position will coincide with climbing out of the yellow downtrend established.
Look to 61.00 to 61.50 for buying opportunities (GREEN). Likely to fall-off-the-grid if it closes below green trendline.
If above, long, if short = false breakout.