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)
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)
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.
Disclaimer: 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.
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The Stocks That Will Insure You Against The Fiscal Cliff
Published 11/29/2012, 01:11 AM
Updated 05/14/2017, 06:45 AM
The Stocks That Will Insure You Against The Fiscal Cliff
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