• Return to Headlines

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. Today's price range of $49.49 and $49.78 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.

Over the past year, American Interna has traded in a range of $41.10 to $58.66 and is now at $49.71, 21% above that low. The 200-day and 50-day moving averages have moved 0.07% higher and 0.23% lower over the past week, respectively.

American Interna (NYSE:AIG) has potential upside of 28.7% based on a current price of $49.71 and analysts' consensus price target of $64.00. The stock should find initial resistance at its 50-day moving average (MA) of $51.50 and further resistance at its 200-day MA of $53.39.

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 inside day candle american interna

Ticker(s): AIG