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AIG STOCKS FALL ON RATING DOWNGRADES - Capital Street FX
AIG’s stock is currently trading at 53.51-lower by 0.59% as compared to the previous closing price. In the pre-market trading session, the stock was trading lower by 1.36%. The stock has pared some of its losses after the opening bell.
Stocks of American International Group fell on Wednesday after Deutsche Bank downgraded it to hold from buy. The bank, however, raised its price target on AIG to $53 from $52. The bank expects a limited upside in the stock relative to its price target. Deutsche Bank said that the company’s stock is trading at a multi-year premium relative to insurance peers.
On the technical front, the RSI is currently at 66.94% and suggests that the market can move in the downward direction. The current price is above the MA5. The current price is above the middle line of the Bollinger bands but is heading downwards.
TRADE SUGGESTION- LIMIT SELL AT 53.55 TAKE PROFIT AT 53.15 STOP LOSS AT 53.75