American International Group (AIG) Price Near $28.95; Heads Up For the 2nd Straight Day, Price Base in Formation Over Past 90 Days, Breaks Above 20 Day Average

The Hourly View for AIG

Last Updated September 15, 2020, 23:14 GMT

At the moment, AIG’s price is down $-0.18 (-0.63%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as AIG has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 20 and 50 hour moving averages, resulting in them so that price is now turning below them. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

American International Group Inc Daily Price Recap

American International Group Inc closed the day prior up 3.52% ($1); this denotes the 2nd straight day an upward move has occurred. This move happened on lower volume, as yesterday’s volume was down 26.34% from the day before — and down 4.23% from the same day the week before. The daily price chart of American International Group Inc below illustrates.

AIG

American International Group Inc Technical Analysis

First things first: American International Group Inc crossed above its 20 day moving average yesterday. Volatility for American International Group Inc has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that American International Group Inc’s price has gone up 7 of the previous 14 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about AIG:

    📈 Market cap history for American International Group ($AIG)️:

    2020 : $25 B -43.77%
    2019 : $45 B +30.76%
    2018 : $34 B -36.23%
    2017 : $54 B -20.16%

    More: https://companiesmarketcap.com/aig/marketcap/

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