Friday, May 07, 2010

American International Group, Inc (AIG) - Keeping Its Head Above Water


The S&P500 may have been down for the day but American International Group, Inc (AIG) managed to close higher thanks to an earnings report.  AIG today reported a $1.45bn first-quarter profit.

Looking at the above chart of AIG you'll notice that this stock is doing a good job at staying above its 50 day moving average. In the lower panel is the on balance volume indicator which is showing a bullish pattern. Prices have been moving lower but OBV is moving higher forming a bullish divergence. In fact, the OBV line is about to breakout to a new high.

If you are looking to buy something, this might be a good stock to keep on your buy list when the time is right to dabble on the long side. Today American International Group, Inc (AIG) closed at 38.70 up 5.31% form yesterday's close.

4 comments:

Anonymous said...

Kevin,

Your posts have been right on the money. I have noticed that you are posting more frequently. Thank you.

-Traderwannabe

Kevin said...

Thanks... If I have the time and I see some trading oppotunities, I do my best to post them in a timely manner.

Christina said...

Thanks for this advice. I normally use bullrally.com because I normally invest in penny stocks, but I am looking to invest in larger stocks recently, so I may take your advice. Thanks for the tip.

d said...

Kevin

Where did that chart of the 4 years cycle go?

We must be getting close

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