A technical analysis of METLIFE INC.

METLIFE INC (NYSE:MET) 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:MET.

Technical Analysis Observations

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 8 out of 10 to MET. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, MET is only an average performer.

• The long and short term trends are both positive. This is looking good!
• In the last month MET has a been trading in the 61.05 - 64.86 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• Looking at the yearly performance, MET did better than 71% of all other stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
• MET is an average performer in the Insurance industry, it outperforms 66% of 142 stocks in the same industry.
• MET is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so MET is lagging the market slightly.

Check the latest full technical report of MET for a complete technical analysis.

Looking at the Setup

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:MET exhibits a 9 setup rating, indicating its consolidation status in recent days and weeks.

MET has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. 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 64.10. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 62.64, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:MET

For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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

Disclaimer

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 observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.