Hello Traders, Aflac is nearing a completion of a BEARISH Wolfe Wave. Point 5 has not yet been created and a Potential Target Before Decline has been defined at 82.63. Once that level is achieved expect a bearish force to come into play. Best, Chartistry
Looks like an inverted cup and handle on the 240 at the top of a rising wedge (red) from daily.
$AFL daily showing channel up paired with multiple neg divergences on RSI, Williams %R, and the Chaikin Money Flow. Touched to upper channel extreme. Keltner is mid ranged, w/ small gap still open below to fill @ 65.50.
AFL has falling big once before on a big picture bearish pattern. Could it do it again?
This week one of a few stocks that needs to be watched includes AFLAC. The duck stock has been in a difficult situation all most the entire year though their operations are humming along just fine. The company is hitting its targets and making a steady profit. The strength of the dollar and weakness of the yen is a major problem to the company's large operations...
Low volatility means tight stop. Big company means low volatility. Low volatility means low risk. Notice the accuracy of bounces from the trend line.
4 hour really giving a nice look at support likely breaking back to 62-63 for leg start test.