Ageas SA is a Belgium-based international insurance company. The Company’s business segments include Belgium, the United Kingdom, Continental Europe, Asia, Reinsurance, and General Account. The stock is listed on the Belgium Stock Exchange. The price chart has formed a 16-month-long descending triangle with the horizontal boundary acting as strong support around the €38.70 level. A daily close below the €38 level will confirm the breakdown from the 16-month-long descending triangle with a possible chart pattern price target around the €29.00 level.
Price moved convincingly lower through the €38 level of resistance to open the short trade idea.