AIG Mid-week analysis 9/16/2013
Breaking out of consolidation $45-$48, looking to establish another zone of consolidation.
This is a follow up the chart that I published 2 weeks ago. (tradingview.com/v/kAyKlDdn/)
Looking at AIG weekly chart, AIG has been moving up along zones of consolidation. Each breakaway is signaled by RSI approach or above 70. Last week, we saw another break out (RSI is above 70). Currently, we are seeing the confirmation of the bullish breakaway. I expect that we will establish another period of consolidation shortly, this will be signaled by peaking of RSI.
Long AIG
This is a follow up the chart that I published 2 weeks ago. (tradingview.com/v/kAyKlDdn/)
Looking at AIG weekly chart, AIG has been moving up along zones of consolidation. Each breakaway is signaled by RSI approach or above 70. Last week, we saw another break out (RSI is above 70). Currently, we are seeing the confirmation of the bullish breakaway. I expect that we will establish another period of consolidation shortly, this will be signaled by peaking of RSI.
Long AIG
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