Twitter Ticker ($AIG)

• Charles Amadeus
• August 27th, 2009

American International Group is buzzing on StockTwits as it continues to advance since breaking out on August 20th. I wrote a column here when AIG was trading around 26 over a week ago, and so far this has been a stellar trade with results much quicker than I anticipated.

Now that it is officially trading in an uptrend above a rising upper Bollinger, the sky is the limit, though a move below 30.79 would initiate an secondary downtrend. The price target has been upgraded from 45 to 54, but bear in mind this is only a preliminary estimate.

The broad market continues to act strong, so buying-the-dip remains in play for the time being. More importantly, market sentiment remains mixed, so there are plenty of stubborn bears whose blood will continue to fuel this rally.