AMERICAN INTERNATIONAL GROUP (NYSE:AIG) Technical Analysis observations.

Our stock screener has spotted AMERICAN INTERNATIONAL GROUP (NYSE:AIG) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:AIG.

Deciphering the Technical Picture of NYSE:AIG

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Taking everything into account, AIG scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, AIG is only an average performer.

• The long and short term trends are both positive. This is looking good!
• AIG is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so AIG slightly outperforms the market at the moment.
• Looking at the yearly performance, AIG did better than 80% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
• AIG is an average performer in the Insurance industry, it outperforms 64% of 142 stocks in the same industry.
• In the last month AIG has a been trading in the 58.69 - 63.65 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Our latest full technical report of AIG contains the most current technical analsysis.

Looking at the Setup

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the extent of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:AIG has a 8 as its setup rating:

Besides having an excellent technical rating, AIG also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 62.16. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 61.03, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for AIG in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:AIG be traded?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.