Going a Bit Bearish on AIG

Bearish plays continue to be a challenge; however, there have been more developing with earnings season moving into the rear-view mirror. While fundamentally, I'm not bearish on financials, there are a few that, from a strictly technical standpoint, appear to be bearish. 

I'm not talking Goldman Sachs (GS) , JPMorgan (JPM) or Citigroup (C) as those are all strong. I have my eyes on American International Group (AIG) , with one particular pattern in focus: a bearish megaphone pattern. This pattern isn't textbook on the daily chart, but nothing is really textbook. The higher highs with the lower lows last week have this primed for potential downside into the $63.75 to $64 range over the coming weeks excluding the upcoming dividend -- furthermore, if we include the big doji with exhaustion buying from a few days ago....151 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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