Wednesday, March 16, 2016

Annual Trading Forecast on AIG (2016)

AIG shares (NYSE:AIG) have gone bearish since the beginning of the year 2016. This bearish journey is supposed to continue for the rest of this year.

The price is currently below the EMA 26, and the Williams’ % Range period 20 is sloping towards the overbought territory, which simply means a rally in the context of the downtrend. It might seem that a bullish signal is about to be generated when we look closer at the chart, but there cannot be a bullish victory until the resistance level at 55.00 is breached to the upside.

In case the price goes below the EMA 21 and the Williams’ % Range period 20 goes back into the oversold region, the extant bearish outlook on the market would be reinforced.   

This forecast is ended by the quote below:

“We plan out what we are going to do before the market actually does it.” – Sam Evans

Azeez Mustapha

Market Analyst, Trading Signals Provider and Coach

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