American International Group (AIG) Closes Last Hour Up $0.03; Price Base in Formation Over Past 90 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for AIG

Last Updated September 10, 2020, 15:14 GMT

Currently, AIG’s price is up $0.29 (1%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. 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

29.15 was the closing price of the day for American International Group Inc, resulting in today being one in which price moved up 0.9% ($0.26) from yesterday. As for how volume fared, yesterday’s volume was up 0.03% from the previous day (Tuesday), and up 18.03% from Wednesday of the week before. Here is a daily price chart of American International Group Inc.


American International Group Inc Technical Analysis

Coming into today American International Group Inc is now close to its 20 day averages, located at 29.6 respectively, and thus may be at a key juncture along those timeframes. 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 down 15 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard Around the Web

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

    Went through a lot of tickers today searching for the wedge pattern that is still below the highs from Feb stocks in this pattern I believe will form the next bull run as people rotate out of tech and back into recovery I bought quite a bit today, all were call spreads for 16OCT20 Expiration…doing 5 at a time as that is the limit