Is Cincinnati Financial Corp. Headed for a Breakdown?
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Cincinnati Financial Corp. (CINF) is approaching a key support level. If this level is surpassed, a breakdown is expected.
Cincinnati Financial Corp. (CINF) provides property casualty and life insurance services. It operates through the following segments: Commercial Lines Insurance, Personal Lines Insurance, Excess and Surplus Lines Insurance, Life Insurance, and Investments.
Take a look at the 1-year chart of CINF below with added notations...
After a steady 6-month rally, CINF has settled on top of a key level of support at $113 (green). The stock has fallen back down to that support level again, and another rally could start from there. However, a break of $113 could mean much lower prices for the stock.
If the stock were to break below the support, a short position could be entered under $113 with the expectation of a breakdown.
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CINF shares fell $114.13 (-100.00%) in premarket trading Tuesday. Year-to-date, CINF has gained 34.24%, versus a 14.64% rise in the benchmark S&P 500 index during the same period.
About the Author: Christian Tharp
I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group and Yolo Publishing.Is Cincinnati Financial Corp. Headed for a Breakdown? appeared first on StockNews.com