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Good technical signals and a possible breakout for AFLAC INC.

By Mill Chart

Last update: Dec 6, 2023

Our stock screener has identified AFLAC INC (NYSE:AFL) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:AFL.

AFL Daily chart on 2023-12-06

Technical analysis of NYSE:AFL

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

Overall AFL gets a technical rating of 9 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, AFL is showing a nice and steady performance.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • Looking at the yearly performance, AFL did better than 84% of all other stocks.
  • AFL is one of the better performing stocks in the Insurance industry, it outperforms 70% of 142 stocks in the same industry.
  • AFL is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
  • In the last month AFL has a been trading in a tight range between 80.15 and 83.45.

Our latest full technical report of AFL contains the most current technical analsysis.

How does the Setup look for NYSE:AFL

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for NYSE:AFL is 9:

AFL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 82.94. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 82.56, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

How can NYSE:AFL be traded?

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this 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.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.

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AFLAC INC

NYSE:AFL (2/21/2024, 7:24:39 PM)

After market: 79.65 +0.39 (+0.49%)

79.26

+0.48 (+0.61%)

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