AFLAC INC is setting up nicely for a breakout.

AFLAC INC (NYSE:AFL) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:AFL.

Zooming in on the technicals.

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 7 out of 10 to AFL. This is due to a consistent overall performance, although we see some doubts in the very recent evolution. In the medium time frame things are still looking good.

• The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
• Looking at the yearly performance, AFL did better than 87% of all other stocks.
• AFL is part of the Insurance industry. There are 142 other stocks in this industry. AFL outperforms 80% of them.
• AFL is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so AFL is performing more or less in line with the market.
• In the last month AFL has a been trading in a tight range between 72.78 and 76.83.

For an up to date full technical analysis you can check the technical report of AFL

How does the Setup look for NYSE:AFL

ChartMill takes into account not only the Technical Rating but also assigns a Setup Rating to each stock. This rating, on a scale of 0 to 10, reflects the degree of consolidation observed based on short-term technical indicators. Currently, NYSE:AFL exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

Besides having an excellent technical rating, AFL also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 74.71. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 73.17, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading breakout setups.

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.