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.
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.
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.
In this daily Point and Figure chart of AIZ, below, I can see an upside price target in the $147 area.
In this second Point and Figure chart of AIZ, below, I used weekly close only price data. Here the software projects the $147 area.
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.