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Fidelity’s Bullish Trend Stays Tried and True

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Yesterday, we looked at a Daily Price Chart for Topbuild Corp. and noted that the stock has been trading in a clear pattern of higher highs and higher lows for a whole year.

Today’s Chart of the Day is a 10-Month Simple Moving Average chart for Fidelity National Financial, Inc. (NYSE: FNF).

Fidelity National Financial, Inc., provides various insurance products in the United States — including title insurance, escrow, trust activities, trustee sales guarantees, and more.

Now, below is a 10-Month SMA chart for FNF.

Back in March, the Fidelity Natonal Financial 1-Month moving-average line crossed above the 10-Month SMA, indicating FNF is on a PowerTrend ‘buy’ signal (circled).

And I’m sure you know what happened next…

Prices ratcheted even higher, nearly doubling from where they were last December.

If you had purchased FNF shares when the PowerTrend ‘buy’ signal occurred for the stock back in March, when the stock was around $36.55, you’d be up 28.3% by now.

Not too shabby for a seven-month hold of a major insurance company…

Now, as you can see, the 1-Month moving-average is still above the 10-month SMA. That means the bullish trend is still in play!

As long as the 1-Month Price line remains above the 10-month SMA line, the stock is more likely to keep trading at new highs in the coming days and weeks.

We’ll be keeping our eye on this stock as it continues to trend upward, so we’ll know that moment the market conditions shift, and the stock begins to come back down.

Best Regards,

Chuck Hughes
Editor, Chart Of The Day

The post Fidelity’s Bullish Trend Stays Tried and True appeared first on Laissez Faire.


Source: http://freedombunker.com/2019/11/13/fidelitys-bullish-trend-stays-tried-and-true/


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