AIG long and strong on the weekly candle.
This is a continuation of a series of previous posted charts .
As show here, on weekly chart AIG now broke the resistance at $50.3, into the next zone of consolidation. I expect the RSI to drop a bit (to around 60-70s) before continuing the next leg up. The bullish trend is certainly up and strong.
Disclosure: No...
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...
AIG TOPPING - ROLLING OVER
T-Bonds went down first -
Then Utilities went next -
Then the banks are toppy & have head&shoulders tops -
Now the insurance sector is starting to show divergences -
TRIPLE DIVERGENCE IN CCI WHICH IS PRICE MOMENTUM, REVEALS INTERNAL WEAKNESS
POSSIBLE SELLING PRESSURE AHEAD AS THE BUYERS HAVE SLOWED THEIR MOMENTUM.
Just for balance: ...
Breaking out of consolidation $45-$48, looking to establish another zone of consolidation.
This is a follow up the chart that I published 2 weeks ago. ()
Looking at AIG weekly chart, AIG has been moving up along zones of consolidation. Each breakaway is signaled by RSI approach or above 70. Last week, we saw another break out (RSI is above 70). Currently, we...
AIG has been in consolidation pattern since May, but now forming a descending triangle with short term support at $44.50 and $43.25. Volume has return to normal. However, I expect a break out from consolidation shortly. If it is unable to hold about these support levels, expect breakdown to fill the gap at $42-$43 range.
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. ...
