Bearish Moving Average Cross by American International (AIG)
Today, shares of American International (NYSE:AIG) have crossed bearishly below their 10-day moving average of $59.72 on a volume of 1.5 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
American International share prices have moved between a 52-week high of $64.93 and a 52-week low of $48.41 and are now trading 22% above that low price at $59.20 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 0.6%.
SmarTrend recommended that subscribers consider buying shares of American International on July 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.39. Since that recommendation, shares of American International have risen 11.1%. We continue to monitor AIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses american international