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Archive
- 8/20/2010
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American Int'l. Group |
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| Summary:
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| | It was the second negative week after 3 consecutive positive weeks for the American Int'l. Group (AIG). During the week, the AIG dropped -1.50 points, or -4.09%, and closed at 35.17 on Friday, August 20, 2010. Weekly volume was -84% below average.
 Long-term trend: [See AIG long-term trend chart]
A long-term downtrend had started on August 28, 2009 at 55.90 and reached 21.54 on February 5, 2010. AIG lost 34.36 points, or 61.47%, in 23 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 6.11 and resistance is at 70.97. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See AIG medium-term trend chart]
A medium-term uptrend had started on February 5, 2010 at 21.54 and reached 45.90 on April 26, 2010. AIG gained -24.36 points, or -113.09%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (71.46) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AIG may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See AIG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since July 23, 2010. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See AIG short-term trend chart]
A short-term downtrend had started on April 26, 2010 at 45.90 and reached 32.11 on May 25, 2010. AIG lost 13.79 points, or 30.04%, in 29 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 17.73 and resistance is at 42.96. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See AIG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since August 11, 2010. This is an indication that the short-term trend is down.
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