Very god rise of late --- but has halted today right on the 450p res. level i posted about some time back !!-- Now the fight starts to overcome this strong res. marker and move on up to the 460p marker .
Yes, very good recovery from oversold levels but i sold 50% of my 408.5p top-up a bit too early today ( 421p) it would seem !!. Markets all following the Dow lower after the FOMC minutes tonight suggest a US rate hike maybe more than once before the end of this year now !!! Gold also tumbling --- and i went and opened a Gold long position --Oy Vey
Technically went into Daily charts RSI oversold last Friday on that dip to around 408p ,that's why i topped up at that level. Skirting the bottom of the channel still atm .---- Any dips to near 400p or below ( intraday ) will be Technical Oversold indicators !!--- What i would fear is a close below the late february low !!!--- But as i have posted previously , i don't see a sub 400p close !! ( famous last words , eh ) ---
"What utter garbage these people churn out. " You didnt think they would do masses of research just for you to read and buy with confidence off their hard work ? I am afraid it doesnt work like that
A number of brokers probably made their estimation betting on an interest rate rise in the US which is back on hold....
As long as there is talk of negative interest rates and in fact ultra low interest rates insurance companies like Aviva will be out of favour ...the SP at times is more to do with the macro economics rather than anything Aviva is doing
Having said that it will no doubt get to an oversold position at which point it becomes a buy...which many are sitting on the sidelines are waiting for..
Aviva will have to work hard internally with cost reductions etc in order to boost the earnings per share...
.I wonder how the Canadian business is performing ?
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