It seems like $AIG is ready for a pullback.
Closes right on top of the Tenkan sen.
Next support is around $31.
Goldman price rises as high as 140.15 yesterday on news that their hearing will be extended to July 19; the original date fo r the hearing was supposed to be yesterday (June 21).
However, the price reverse and close off on the low at 137. Volume is also very low for the day.
GS price is unlikely to go up much until the hearing is completed.
If the reversal plays out, we should have a target of $131 (it’s recent low). Any more bad news (eg. more lawsuits) may see it break the recent low.
Likewise, a confirmed settlement with SEC can revive its price movement upwards.
With the broader market having a selloff on Hungary’s economic woes and the poor job data from the US, GS manage to have a little rally that sees it rise to 145.80.
The little rally is fuel in part by speculation that it is going to settle with SEC.