Relative Strength Insurer Forming High Tight Bullish Flag
Aflac (AFL) shares are bull flagging near recent highs and continuing to stay in a strong trend as the insurance name rides the 8/21 EMA’s higher since the late summer breakout above 72. AFL has support at the 82 level and a close above 83 likely brings a quick pop to new highs into 85. A close under the 21 EMA at 81.50 would be a prudent stop level to use. AFL was at the Goldman Financial Conference Tuesday so the potential to see analyst notes or comments in the days after these events is always intriguing in a name with a solid chart setup.