AIG closes above its opening price after recovering from early selling pressure


American International Group, Inc. (AIG) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
AIG closes above its opening price after recovering from early selling pressure
AIG ends the day on a bullish note closing near the high of the day
AIG closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

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 chart for AIG
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 52.53.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for American International Group, Inc.
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
Gap Up TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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