Insurance Against the Fiscal Cliff
- Posted by Greg Harmon
- on November 28th, 2012
Now until December 2nd, the Annual Membership can be had at a Special Fibonacci Discount to the Rolling Monthly Rate. 38.2% off or $667.44. Follow the link here.
If you want to avoid the Fiscal Cliff than take a look at these three insurance related stocks. The must have life insurance policies on the lawmakers that seem to want to take us over the cliff, because they just keep going up.
Aflac, $AFL, has been in a long unperturbed uptrend since June. Not only does it have support for more upside from a rising and bullish Relative Strength Index (RSI) and a Moving Average Convergence Divergence indicator (MACD) but on a shorter view printed a bullish engulfing candle Wednesday at 2 year highs. It offers a nice trade opportunity against Wednesday’s lows.
Allstate, $ALL, pulled back into the election within its year long uptrend. After basing for 3 weeks it has been rising and looks ready for more. The RSI is rising and just turned into bullish territory and the MACD is positive and growing, both supporting more upside price movement. The move up over the brief consolidation at the 50 day Simple Moving Average (SMA) today came with expanding Bollinger bands to boot. All positive. A retest of the previous high at 42.58 looks likely and perhaps beyond.
Manulife Financial, $MFC
Manulife Financial, $MFC, fell out of a symmetrical triangle immediately after the election but found footing at the 200 day SMA and started moving back higher last week. After a brief consolidation at 12.50 it also printed a bullish engulfing candle Wednesday with expanding Bollinger bands opening to allow the move to extend. It has support from a bullish and rising RSI and a MACD that is positive and increasing. A move over the September 14 close at 12.88 has room to run to the 13.50 area before any further resistance.
If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
- Macro Month in Review/Preview August into September 2014
- Macro Week in Review/Preview August 29, 2014
- Premium Earnings 8-29-14
- Stocks and Bonds Rising Together – Its Not So Strange
- Keep It Simple: Ford Stock Is Rising So Buy It
- Premium Earnings 8-28-14
- The Relative Weakness in Gold Aint Over Yet
- Eyeing a Meal and a Trade in Buffalo Wild Wings
- Premium Earnings 8-27-14
- Re-Emergence of the Emerging Market ETF