Is AIG Back On Track?

Shares of insurance giant American International Group  (AIG) began today's session with a powerful breakout gap. This earnings-inspired surge has lifted the stock well above heavy resistance near the 200-day moving average. AIG now has a very solid base underneath and is set up well for more upside as the bear channel that has been in place since late January gives way.

Back on February 15 AIG suffered a major breakdown. The stock finished that session with a 9% loss on extremely heavy volume following a disappointing fourth-quarter report. AIG continued to trend lower over the next eight weeks while extending its streak of lower monthly lows to four straight. Since the April low the stock has been steadily improving and, with the nice boost from last night's news, the stock is headed for a higher monthly low. Patient AIG investors should take a more positive view of the stock now....65 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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