Chubb shares ( NYSE:CB ) jumped over 8% in late trade on Wednesday after Warren Buffett's Berkshire Hathaway revealed a $6.7 billion stake in the Zurich-based insurer. Buffett recently told shareholders that property-casualty insurance provides the core of Berkshire's well-being and growth. Berkshire had been building its position in Chubb since 2023, but had not...
CB is currently in an ascending channel with bearish RSI divergence. Has hit resistance at top of channel just wait for break of trendline on smaller time frame, stoploss above last swing high with target at next resistance level, moving SL to BE when safe to do so.
A combination of harmonic (Bearish Crab), an ABCD pattern, a significant fib retracement, a pending momentum rollover and negative divergence makes CHUBB a potential short IF the broader markets roll over.
$225 may be an area worth considering....
TV rates this a strong BUY.....
Worth watching... no action suggested yet... let general market softness be...
Double Bottom Pattern: The stock has formed a classic double bottom pattern, which is often viewed as a bullish reversal signal. This pattern has two distinct lows (labelled as "Bottom 1" and "Bottom 2") at roughly the same price level, suggesting that the stock found strong support and buyers stepped in at those levels.
200-day Moving Average: The stock price...
On the chart we can see the head and shoulders formation, which is bearish.
We are expecting a breakdown.
Enter the short position only if the price breaks the neckline.
Target and stop loss are shown on the chart.
The PEAD projected a bullish outlook for CB after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 70%.
The PEAD projected a Bullish outlook for $CB after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 100%.
A price action below 211.50 supports a bearish trend direction.
Also confirmation for a price action below 212.00.
Consolidation price range between 203.50 and 209.00.
Crossing below 203.50 supports the price action to reach 198.00.
MACD bearish crossover also applicable.
The PEAD projected a Bullish outlook for $CB after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 66.67%.
Hello,
I see Head and scolders pattern, with targets (168 - 160 - 156 - 150) invalidation if it close 4 h above 188.
Also we are in correction wave could reach 120, so I think short is good here.
DYOR, Not Financial Advice.
Week NO 39
A bull flag pattern might support further upside price potential.
A price action above 193.50 supports a bullish trend direction.
Crossing below this level will negate the bullish trend direction.
Further bullish trend support above 196.50.
Consolidation price range from 195.50 to 198.50.
Crossing above the 198.50 resistance might target 203.50.
Crossing below...
The PEAD projected a Bullish outlook for $CB after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 62.5%.
Bearish
Fundamental
- Strong industry group
- Funds are distributing
- Declining growth / earnings
TA
- Momentum theory divergence
- Momentum declining
- Price below 200/50 moving average
The PEAD projected a Bullish outlook for $CB after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 50%.
Nice uptrend in this name, waiting to see if price breaks out of this fresh new flag, or if we retest the trendline one more time.
Either way, it does look good.
