Chubb unlocking the trend
First this is yet another stock which has bucked the recent move lower in the primary indices, maintaining its price around the $144 area, and as such is likely to perform well, as the primary markets recover and pick up bullish sentiment once more. In addition, the recent weekly sideways price action has also developed a strong level of potential support in the $145 area with the stock now trading at $146.39 at time of writing.
Second and equally important, we are now moving firmly away from the volume point of control as shown with the yellow dashed line, and where the heaviest concentration of volume sits. Until recently, this was the fulcrum of the market where price had been in agreement. Now bullish sentiment prevails driving the price higher. Furthermore, once we approach $148 per share and beyond, volume on the histogram falls away which should allow the stock to drive through this area and on towards $156 and higher in the longer term.
Volume remains supportive and with only minor resistance ahead at $147.20, and with the trend monitor indicator remaining firmly blue, this stock looks set to continue higher. Last time around EPS of $2.54 comfortably beat market forecasts of $2.49 helping to provide further positive momentum for the stock.
By Anna Coulling
Charts from NinjaTrader, indicators from Quantum Trading
Get our Free Ebook, "Suppressed Health Secrets" with Natural Cures THEY don't want you to know!
APeX - Far superior to colloidal silver! Destroys Viruses, Bacteria, Pathogens with Oxygen plus Silver!Supreme Fulvic - Nature's most important supplement! Vivid Dreams again!
Ultimate Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Organic Hemp Extract (CBD) - Full Spectrum high CBD (3300mg) hemp extract eases stiff joints, relieves stress and more!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video)
FINAL WARNING! Diseases are EXPLODING! Watch this Video about APeX and You'll THROW AWAY Your Colloidal Silver! APeX destroys Viruses, Bacteria and other Pathogens with the power of Oxygen PLUS Silver! Nobody else has a product like THIS! See why the inventor hasn't been sick in 16 years and why you'll never hear about it on the FAKE NEWS! Get some now and tell your friends about it too so we can reach more people!