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AIG pushes through 50-day moving average


Technical Analysis Report for AIG - May 17, 2018 [< 1 min read]
Highlights
AIG pushes through key resistance level
AIG pushes through 50-day moving average
AIG closes higher for the 5th day in a row
AIG pushes through previous session high
AIG rises to highest close since May 2nd
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 5th day in a row, AIG finished Thursday at 54.79 gaining $1.08 (2.01%). Today's closing price of 54.79 marks the highest close since May 2nd. Closing above Wednesday's high at 53.74, the stock confirms its breakout through the previous session's high having traded $1.34 above it intraday.

Daily chart for AIG
Volatility

Thursday's trading range was $0.64 (1.17%), that's below last trading month's daily average range of $0.92. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being way above average.

Support/Resistance

Breaking through the key resistance level at 54.76 today, it is now likely to act as support going forward.

Trend

Although the share is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory. American International managed to break above the 50-day moving average at 54.39 today for the first time since April 27th.

Order Flow

As prices are trading close to May's high at 56.33, upside momentum might accelerate should the market mark new highs for the month.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only slightly bullish while our quantitative statistics show a bullish sentiment.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Price broke through Technical Resistance R1 TQ Pro Members Only
Bullish Break through SMA 50 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
More market conditions identified for TQ Pro members...
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