Motor Vehicle insurance prices are up 2.6% month-over-month and 22% year-over-year according to the latest Consumer Price Index report published by the Bureau of Labor Statistics. This should benefit insurance sector equities, so let's take a look at the KIE Insurance ETF.
First Chart (Trend Line; 1 Year):
Taking a 1 year view we can see that (KIE) has been...
Something is broken in the Insurance sector.
Is there insurance for insurance?
Trading is like Sherlock Holmes, sniffing for clues. And this is what we found!
$IAK
- volume surged since 21st May 2022
- POC level seen at the peak of the chart seems like smart money has been distributing at the top
- bearish momentum divergence / momentum broke below...
As per the Chart,
Look out for the Insurance Companies, they tend to do well during rising rates and they are pricing in for future. If you good at stock picking do that will have better returns
This indurance ETF has been testing resistance for about a year now and it has broken it last week. Along with that this ETF is now trading at an all time high and I think it could continue to move upwards with the insurance sector looking strong.
