AIG is Near a Key Support Area
Published on Monday, 07 May 2012 05:44 Written by TradersHuddle Wire
New York, May 7th (TradersHuddle.com) - Shares of American International Group, Inc. (NYSE:AIG) finished near calculated support at $31.30.
The insurance company closed at $32.83 leaving shares at a level that will spark interest by traders wanting to start or add to a position in the stock.
AIG's stock range is defined by its calculated support defined at $31.30 and by the resistance level at $35.05.
The area where we expect for buyers to materialize is defined as calculated support. A stock trading near its support level might see a lift, if it provides the necessary support for traders to place their buy orders. However, if this area is breached, it will signal participants that the stock failed to entice buyers to step in and support the stock, which in turn will spur additional downward momentum.Traders wanting to establish a position should pay close attention to AIG's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $35.05 might limit their upside, however, if the stock breaks resistance, it could be a good point to step in and add to the position.
- AT&T And America Movil To Provide Deeper National Reach For Advanced Enterprise Services Across Latin America
- AT&T 4G LTE Available In Willimantic
- AT&T 4G LTE Available In Torrington
- AT&T And The University Of Kansas Team Up To Enhance Wireless Coverage On Lawrence Campus
- AT&T 4G LTE Available In Fargo
- AT&T 4G LTE Available In Amarillo
- Benefitfocus Announces Pricing of Initial Public Offering
- Trends of China Gear Industry 2013 Analysis & Reviewed in New Research Report at RnRMarketResearch.com
- Product Launch Formula 4.0 Bonuses Total $5000 at BrianHanson.com
- Datex Presents Motorola Solutions Webinar “Is It ‘Smart’ to Use Smartphones for the Enterprise?”
Related Partner Headlines
Recent Trading Ideas
Advanced Micro Devices Is Near Resistance
Is Petrobras Closing in to Resistance?
Trading Idea: What to Expect as Boston Beer Breaks Resistance
Rowan Companies Is Near Resistance
FLIR Systems Is Close to the 50 Day Moving Average
Is Avon Expecting Resistance Soon?
Vulcan Is Near its 200 Day Moving Average
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com