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AIG executives were reported to have held a meeting with analysts in an attempt to re-build trust in the companys turnaround plan amid lack of clarity regarding the successor to CEO Peter Hancock.

AIG shares closed lower on Friday, while marking their sixth loss in the past seven trading sessions. The stock went down 0.75% ($0.46) to $60.88, after touching an intraday low at $60.44, or a price level not seen since February 15th ($60.41). In the week ended on March 26th the shares of the insurance company lost 2.47% of their market value compared to a week ago, which marked a third consecutive period of decline and also the worst performance since the week ended on February 19th. The stock has extended its slump to 4.76% so far during the current month, following a 0.53% drop in February. The latter has been a second consecutive month of decline. For the entire past year, AIG shares gained 5.39%.

AIGs Chief Financial Officer Sid Sankaran, commercial insurance executive Robert Schimek and consumer insurance executive Kevin Hogan met with a group of analysts on March 23rd to discuss the insurers 2-year restructuring strategy, according to people who attended the meeting.

AIG executives tried to push a message of financial health, as they stated the company had sufficient reserves and was on track to achieve its 2017 objectives during the second half of the turnaround plan, according to analyst reports released on March 24th.

Sandler O’Neill analyst, Paul Newsome, said that the Chief Executive topic “definitely was in the air”.

“During the meeting it appeared as if potential CEO candidates were not meeting with the C-suite, which was a bit surprising to us, and perhaps leads us to believe that an internal candidate is unlikely”, Amit Kumar, Macquarie analyst, wrote in a client note, cited by Reuters.

On March 9th AIG announced that CEO Peter Hancock was to step down, but however, no successor has yet been named.

A month earlier the insurance company reported a surprisingly large loss in Q4.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the AIG stock are presented as follows:

R1 – $61.00
R2 – $61.12
R3 (Range Resistance – Sell) – $61.25
R4 (Long Breakout) – $61.61
R5 (Breakout Target 1) – $62.04
R6 (Breakout Target 2) – $62.22

S1 – $60.76
S2 – $60.64
S3 (Range Support – Buy) – $60.51
S4 (Short Breakout) – $60.15
S5 (Breakout Target 1) – $59.72
S6 (Breakout Target 2) – $59.54

By using the traditional method of calculation, the weekly levels of importance for American International Group Inc (AIG) are presented as follows:

Central Pivot Point – $61.39
R1 – $62.33
R2 – $63.79
R3 – $64.73
R4 – $65.68

S1 – $59.93
S2 – $58.99
S3 – $57.53
S4 – $56.08

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