AIG closes above its opening price after recovering from early selling pressure
American International Group Inc. (AIG) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
AIG finished the week -2.67% lower at 52.22 after gaining $0.22 (0.42%) today. Trading up to $0.39 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.
Daily Candlestick Chart (AIG as at Aug 10, 2018):
Friday's trading range was $1.02 (1.98%), that's slightly above last trading month's daily average range of $0.93. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.
Prices are trading close to the key resistance level at 52.53.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.