American International Group, Inc. (NYSE: AIG)

American International Group, Inc. engages in the provision of insurance products and services for the commercial, institutional, and individual customers in the United States and internationally. The company operates in three segments: Chartis, SunAmerica Financial Group, and Aircraft Leasing. The Chartis segment offers casualty insurance products that cover general liability, commercial automobile liability, workers' compensation, excess casualty, and crisis management coverages. It also provides personal accidental and supplemental health products, including accidental death and disability, accidental medical reimbursement, hospital indemnity, and medical excess. The SunAmerica Financial Group segment offers term life, universal life, accident & health, fixed and variable deferred annuities, fixed payout annuities, mutual funds, and financial planning products and services. It distributes its products through banks, broker-dealers, financial advisors, independent marketing organizations, insurance agents, structured settlement brokers, benefit consultants, and direct-to-consumer platforms. The Aircraft Leasing segment acquires and leases commercial jet aircraft to airlines. The company is also involved in the issuance of residential mortgage guaranty insurance that covers mortgage lenders, as well as derivatives intermediary activities.

To review American International's stock, please take a look at the 1-year chart of AIG (American International Group, Inc.) below with my added notations:

After trending higher from November until May of this year, AIG has settled within a small Rectangle pattern over the last (2) months. A Rectangle pattern forms when a stock gets stuck bouncing between a horizontal support and resistance. For AIG, the Rectangle pattern has formed a $32.50 resistance (navy) and a $30 support (red). Both of these levels were also resistance back in May.

The Tale of the Tape: AIG has formed a small Rectangle pattern. The possible long positions on AIG would be either on a pullback to $30, or on a break above $32.50. The ideal short opportunity would be on a break below $30, but a short could also be placed on a rally up to $32.50.