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

By Nick Russo

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. Yesterday's price range of $26.71 and $27.44 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. 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.

In the past 52 weeks, shares of American Interna have traded between a low of $16.07 and a high of $58.66 and closed yesterday at $27.55, which is 71% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 3.7% while the 200-day MA has slid 1%.

American Interna (NYSE:AIG) has potential upside of 132.3% based on a current price of $27.55 and analysts' consensus price target of $64.00. American Interna shares should encounter resistance at the 200-day moving average (MA) of $46.31 and support at the 50-day MA of $26.18.

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.

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 am inside day candle american interna

Ticker(s): AIG