Over the last several weeks we have seen the yield on the 10 year note trend lower and get to levels not seen in a year. This has taken a toll on insurers like Metlife Inc
(NYSE:MET), as the stock had fallen a sharp 11% over the month of July. This was due in part to lower interest rates and a declining stock market. Shares of Metlife Inc
(NYSE:MET) have had a decent bounce right alongside the broader markets but is now coming into an interesting level of resistance. I have isolated the $54.25 area as a place where traders and investors could trade this stock on the short side. The reason I have chosen that area is because that was a key level of support which was broken on the way down. In the world of technical analysis
, when support is broken, it acts as resistance when the stock tries to challenge it from the underside. Should the level provide stiff resistance as I suspect, then traders could see shares of Metlife Inc
(NYSE:MET) easily fall back to the $52.50 area, which would be a quick 3.22% gain in "short" order.
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