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Possible Bullish Inside Day Candle Pattern Detected for American Interna (NYSE:AIG)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in American Interna (NYSE:AIG) based on the price action in the company's shares. Yesterday's price range of $55.42 and $55.74 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of American Interna may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

American Interna (NYSE:AIG) has potential upside of 15.1% based on a current price of $55.60 and analysts' consensus price target of $64.00. The stock should find initial support at its 50-day moving average (MA) of $53.27 and further support at its 200-day MA of $46.08.

American International Group, Inc. is an international insurance organization serving commercial, institutional and individual customers. AIG provides property-casualty insurance, life insurance, and retirement services.

In the past 52 weeks, American Interna share prices have been bracketed by a low of $36.16 and a high of $56.49 and closed yesterday at $55.60, 54% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 1.21% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of American Interna on January 15th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.13. Since that recommendation, shares of American Interna have risen 31.4%. We continue to monitor AIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle american interna

Ticker(s): AIG