Is The Trend Over?

The daily segment at left, shows AFL has broken out of a trading channel … or more like drifted out of the channel.
The question then:
Is the trade over or are we just in a pause and looking for the right side trendline (not advice, not a recommendation).
Stay Tuned
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The Danger Point®, trade mark: No. 6,505,279
Here’s my amateur take. It makes me think of LUNR. This thing was putting in higher highs and higher lows for a while and then broke down all the way to the 200 DMA. It got a small bounce and then kept selling off even more despite already being so oversold. Pretty big slide. Now we don’t know if that will happen with Aflac but all too often, I see the same patterns play out in different stocks. I wouldn’t be surprised to see Aflac continue to slide despite being oversold.
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Thanks, I appreciate the comment.
LUNR has been hit hard; retracing to only 23.6% before heading lower. Not a good sign.
So much going on with the insurance sector that’s below the RADAR. Meaning, they are getting saddled with the bad private credit debt (as reported by Ox Talks) and then, that gets passed on to the customer. No massive breakdown yet … unless you classify Progressive as one example.
The bottom line is, the big caps are eroding. AFL, ALL, CB, GL, MET, and so on.
I did not label the chart on AFL but today was a penetration of support with a return (sort of) into the range.
That puts AFL in ‘spring’ position and it would be ‘normal’ market behavior to attempt some kind of upside move.
We’ll see.
Thanks again,
Paul
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