I think we coil. More bullish than bearish with excess cash on hand now. Benmosche hinted at buybacks yesterday. People change their minds all the time, don't they? I do (sometimes).
Price pulled back with light volume and found strong support at 18ema and bounced. Good entry at current price with tight stop loss and target price of recent swing high.
Could see 37 if AIA and IFLC sale proceeds are used to repurchase shares in the short-term. With gubbie out, could see less stringent hold on divids. Heck, I'll take a better corporate restructuring of the company too! Long-term holder via warrants (2021) and LEAPS.
After the breakout from the rising wedge, the price retraced 50% and retested the trend line. The target for a possible fall would be the last through near the 30 level.
Long for the short term recent market weakness is another opportunity to pick up some shares. Last two session the price formed hammer which gives me a conviction to enter though would love to see volume to increase. Target price 34.50 with stop loss 30.94.
Assuming we can get a weekly close above 32.50 I thinking it will run on trend line up. If not we may get stuck in consolidation and worse case scenario 30 breaks and it will tickle 26s.
Watch for consolidation, or a bounce off the 150 day. Otherwise, we could see the 200 day. Pretty hard to see it below the 29 breakeven point of the gubbie. Stoch says its oversold, but as we know things can be oversold awhile. Got beat up pretty bad Friday. $STUDY
Massive base formation from 26 - 20 should allow for a 6-12 month rally to 32. High frequency trading at 24 - 23 signals strong support at that level. US Gov't investment is a negative but it is widely known and therefore, discounted.
I view $24-$23 as a level that is the lowest risk price zone to buy shares, but I doubt AIG will get back to that price zone. ...
I am merely pointing out the base formation here and the resistance area overhead in AIG. You can see it is right in the middle between the bottom of the base near $22 (down $1.80) and the resistance at $26 (up $2.20). So, I don't have a recommendation at this time but I will if it gets either closer to the bottom of the base or higher near resistance. The...
