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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in American Interna (NYSE:AIG) based on the price action in the company's shares. Today's price range of $26.87 and $27.43 is within yesterday'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. Owners of American Interna may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

American Interna (NYSE:AIG) has potential upside of 137.3% based on a current price of $26.97 and analysts' consensus price target of $64.00. American Interna shares should encounter resistance at the 200-day moving average (MA) of $46.46 and support at the 50-day MA of $26.49.

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, shares of American Interna have traded between a low of $16.07 and a high of $58.66 and are now at $26.97, which is 68% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 7.2% while the 200-day MA has slid 1.6%.

SmarTrend is tracking the current trend status for American Interna and will alert subscribers who have AIG in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle american interna

Ticker(s): AIG