Assurant, Inc. (AIZ) offers credit-related insurance, debt protection administration, warranties and service contracts, and pre-funded funeral insurance. Not your typical insurance company.
Let’s check out the charts and indicators.
In this daily bar chart of AIZ, below, I can see that prices are testing the downward sloping 200-day moving average line. Prices are trading above the rising 50-day moving average line. The trading volume has been more active since late October.
The On-Balance-Volume (OBV) line made a low in March. The Moving Average Convergence Divergence (MACD) oscillator is slightly above the zero line.Â
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In this weekly Japanese candlestick chart of AIZ, below, I can see a bottom pattern playing out from November. Prices are trading below the declining 40-week moving average line. The line is being tested from the underside.
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The OBV line has been stable the past three months or so. The MACD oscillator has been improving but still remains below the zero line.
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In this daily Point and Figure chart of AIZ, below, I can see an upside price target in the $147 area.
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In this second Point and Figure chart of AIZ, below, I used weekly close only price data. Here the software projects the $147 area.
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Bottom line strategy: Traders could probe the long side of AIZ at current levels. I look for gains to $147 and then $160. Risk to $122.
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Clinton Mora is a reporter for Trending Insurance News. He has previously worked for the Forbes. As a contributor to Trending Insurance News, Clinton covers emerging a wide range of property and casualty insurance related stories.