Above Resistance - AIG | Trading Ideas

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Above Resistance - AIG

Published on Thursday, 02 February 2012 07:44 Written by TradersHuddle Staff

New York, February 2nd (TradersHuddle.com) - Shares of American International Group, Inc. (NYSE:AIG) closed the trading session at $26.60 just above calculated resistance at $25.90 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

American International Group, Inc. (NYSE:AIG) through its subsidiaries provides a varied range of insurance and insurance-related products in the United States and abroad. The Company's main activities include both general insurance and life insurance & retirement services operations as well as financial services and asset management. AIG participates in the credit default swaps and mortgage backed securities markets.

AIG's stock was trading in a well defined range with support at $24.16 and resistance at $25.90, given that this range was broken traders will be closely monitoring the stock

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