The Greedy Trader Weekly Analysis
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Yearly Price vs. Trendline:Broken Support
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 5/31/2024 -
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American Int'l. Group (AIG) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overbought
Daily :Stochastic signal line moved above oversold areaA Parabolic SAR indicator is below and near the priceThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the American Int'l. Group (AIG). During the week, the AIG gained 0.79 points, or 1.01%, and closed at 78.82 on Friday, May 31, 2024. Weekly volume was 18% 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 80.82 on May 10, 2024. AIG gained -35.15 points, or -76.97%, in 59 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 74.34 and resistance is at 82.50. 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 long-term trend.

Medium-term trend: [See AIG medium-term trend chart]
A medium-term uptrend had started on October 4, 2023 at 57.72 and reached 80.82 on May 10, 2024. AIG gained -23.10 points, or -40.02%, in 31 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 74.70 and resistance is at 81.79. 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 Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range 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 downtrend had started on May 10, 2024 at 80.82 and reached 76.44 on May 29, 2024. AIG lost 4.38 points, or 5.42%, in 19 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 76.01 and resistance is at 80.68. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See AIG daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since May 20, 2024. This is an indication that the short-term trend is down.

A Parabolic SAR (stop and reversal) indicator (78.93) comes close to the price (78.82). It indicates that the trend is getting weaker. 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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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) 43.59
Williams' Percentage Range (W%R) 50.20
Lane's Stochastic (%D-Slow) 32.85
Greed/Fear Indicator (GFI) 42.08
Moving Average Converg./Diverg. (MACD) 0.62
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.13
Williams' Percentage Range (W%R) 15.60
Overbought
Lane's Stochastic (%D-Slow) 76.59
Greed/Fear Indicator (GFI) 71.98
Moving Average Converg./Diverg. (MACD) 3.57
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 82.50
Monthly Trendline Resistance 81.79
Weekly Trendline Resistance 80.68
Upper Bollinger Band 79.97
Weekly Stochastic Crossing 79.05
20 Day Moving Average 78.96
Parabolic System 78.93
Price 78.82
Daily Stochastic Crossing 77.50
50 Day Moving Average 77.07
Lower Bollinger Band 76.31
Weekly Trendline Support 76.01
Monthly Trendline Support 74.70
Quarterly Trendline Support 74.34
Sector and Industry
Description Name Rank
Sector Financials 9
Industry Property & Casualty Insurance 90
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 76.44
Low Date 05/29/2024
High 78.85
High Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 80.68
Support 76.01
High 80.82
High Date 05/10/2024
Low 76.44
Low Date 05/29/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 81.79
Support 74.70
Low 57.72
Low Date 10/04/2023
High 80.82
High Date 05/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 82.50
Support 74.34
Low 45.67
Low Date 03/24/2023
High 80.82
High Date 05/10/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 16.07
Low Date 03/18/2020
High 80.82
High Date 05/10/2024
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.