Another break out coming soon?
This is a continuation of a previously published chart. Looking at the weekly chart, what becomes evident is that
#1. AIG is in a bullish trend
#2. AIG moves up in a step-wise fashion
Despite of government shut down, AIG was able to finish the week solidly in the positive territory.
RSI > 70 appears to be associated with progression to the next step. Based on that hypothesis, I expect that AIG to break above $50.3, landing into the next step. This may happen as early as next week or the week after, assuming macro is intact.
This is a continuation of a previously published chart. Looking at the weekly chart, what becomes evident is that
#1. AIG is in a bullish trend
#2. AIG moves up in a step-wise fashion
Despite of government shut down, AIG was able to finish the week solidly in the positive territory.
RSI > 70 appears to be associated with progression to the next step. Based on that hypothesis, I expect that AIG to break above $50.3, landing into the next step. This may happen as early as next week or the week after, assuming macro is intact.