Saturday, June 28, 2008

AIG Update for 06.28.2008

AMERICAN INTERNATIONAL GROUP INC. - AIG

Monthly chart shows increasing bearishness, with marked selling the last two months. First target at the .786 fib level hit. No buy signal/pattern evident on this timeframe. Look for continuation lower still.

Weekly chart shows price well below all its moving averages. No buy signal/pattern evident on this timeframe. When I last analysed this stock in early June 2008, I wondered if this will blow up like Bear Stearns. Thus far, it sure is looking like it is on track for a big blow up.

Daily chart shows price well below all its key moving averages on this timeframe. No buy signal/pattern evident on this timeframe.

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