AIG Close to 200 Day Moving Average

Published on Tuesday, 24 August 2010 06:36 Written by Danny Miller

New York, August 24th (TradersHuddle.com) - Shares of American International Group, Inc. (NYSE:AIG) traded at $35.04 close to its 200 day moving average currently set at $33.8256. AIG's price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

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.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $34.75 and calculated resistance at $42.19. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by AIG stock.

Traders wanting to establish a position on AIG will be looking at the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.