AFLAC (AFL) shows a classic bull flag formation on the weekly timeframe, presenting a compelling bullish setup. The stock experienced a strong rally from $60 to $116, followed by a consolidation period that has formed the flag pattern.
Key Technical Points:
• Bull flag pattern nearly complete after healthy consolidation
• Price currently testing the upper boundary of the flag
• Strong support established in the green zone around $104-106
• RSI showing neutral readings, indicating room for upward movement
• Volume profile supports the bullish structure
Trade Setup:
• Entry: Now or on breakout above the descending trendline
• Stop loss: Below $104 support zone
Risk Considerations:
The pattern could fail if price breaks below the green support zone. Overall market conditions and insurance sector sentiment will influence the breakout strength. The long consolidation period suggests institutional accumulation, supporting the bullish thesis for a measured move higher.
Key Technical Points:
• Bull flag pattern nearly complete after healthy consolidation
• Price currently testing the upper boundary of the flag
• Strong support established in the green zone around $104-106
• RSI showing neutral readings, indicating room for upward movement
• Volume profile supports the bullish structure
Trade Setup:
• Entry: Now or on breakout above the descending trendline
• Stop loss: Below $104 support zone
Risk Considerations:
The pattern could fail if price breaks below the green support zone. Overall market conditions and insurance sector sentiment will influence the breakout strength. The long consolidation period suggests institutional accumulation, supporting the bullish thesis for a measured move higher.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Find top crypto tokens with sector indices, AI-powered sentiment analysis & news summaries.
tokenradar.ai/tv
tokenradar.ai/tv
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.