American International Group (AIG) NewsBite - AIG Could Be On the Move

Posted: Thursday, September 17, 2009 10:15 AM EDT

American International Group (AIG) could be on the move today and is now at $40.40, up $.08 (0.2%) on volume of 3,548,703 shares traded. Over the last 52 weeks the stock has ranged from a low of $6.60 to a high of $114.00. AIG was covered in a Lee Allen report today. To read the report, and read Lee's reflections on last year's market meltdown, go to www.marketintelligencecenter.com/la091709 . American International Group stock has been showing support around $38.70 and resistance in the $42.10 range. Technical indicators for the stock are bearish and S&P gives AIG a negative 2 STARS (out of 5) sell ranking. If you are looking for a hedged play on AIG the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 28 range. [ABR-Seven Summits Strategic Investments NewsBite]

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