The Greedy Trader Weekly Analysis
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S&P 500 Oversold Stocks

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- 2/16/2024 -
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American Int'l. Group (AIG) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :The price has risen above the Parabolic SARThe price touches the upper Bollinger BandThe Bollinger Bands are historically close together
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It was a first positive week for the American Int'l. Group (AIG). During the week, the AIG gained 0.92 points, or 1.33%, and closed at 70.04 on Friday, February 16, 2024. Weekly volume was 41% above average.

AIG is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See AIG long-term trend chart]
A long-term uptrend had started on March 24, 2023 at 45.67 and reached 73.28 on February 14, 2024. AIG gained -27.61 points, or -60.46%, in 46 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (67.56) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See AIG medium-term trend chart]
A medium-term uptrend had started on August 22, 2023 at 57.02 and reached 73.28 on February 14, 2024. AIG gained -16.26 points, or -28.52%, in 25 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 68.72 and resistance is at 72.30. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AIG weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since June 2, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AIG short-term trend chart]
A short-term uptrend had started on October 4, 2023 at 57.72 and reached 73.28 on February 14, 2024. AIG gained -15.56 points, or -26.96%, in 133 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 68.63 and resistance is at 73.27. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See AIG daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 2, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price touches the upper Bollinger Band. The distance between the Bollinger Bands (2.97%) is close to one year low (4.31%). It is 68.31% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.14
Williams' Percentage Range (W%R) 54.40
Lane's Stochastic (%D-Slow) 52.08
Greed/Fear Indicator (GFI) 50.26
Moving Average Converg./Diverg. (MACD) 0.53
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.92
Williams' Percentage Range (W%R) 20.10
Lane's Stochastic (%D-Slow) 74.11
Bearish
Greed/Fear Indicator (GFI) 71.24
Moving Average Converg./Diverg. (MACD) 2.46 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 73.27
Monthly Trendline Resistance 72.30
Weekly Stochastic Crossing 71.47
Daily Stochastic Crossing 70.60
Upper Bollinger Band 70.25
Price 70.04
20 Day Moving Average 69.40
Monthly Trendline Support 68.72
Weekly Trendline Support 68.63
Lower Bollinger Band 68.15
50 Day Moving Average 68.09
Parabolic System 67.69
Quarterly Trendline Support 67.56
Quarterly Trendline Resistance 65.00
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Property & Casualty Insurance 119
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 67.53
Low Date 02/01/2024
High 73.28
High Date 02/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 73.27
Support 68.63
Low 57.72
Low Date 10/04/2023
High 73.28
High Date 02/14/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 72.30
Support 68.72
Low 57.02
Low Date 08/22/2023
High 73.28
High Date 02/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 65.00
Support 67.56
Low 45.67
Low Date 03/24/2023
High 73.28
High Date 02/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 16.07
Low Date 03/18/2020
High 73.28
High Date 02/14/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.