You've probably reviewed this stock before, but I thought I'd ask anyway for you to look this one over. What's happening with Manulife? Do you see this as a good time to buy/sell/hold based on the technicals/fundamentals?
This will be the third time that I have reviewed the charts for Manulife Financial Corp. but the first two occasions were in 2010 so this is a timely request. When I first analyzed the shares they were trading for $18.02 on April 30, 2010. At the time it didn't look like a buy and hold stock. It was advised that the best course was to confirm the bottom and avoid anticipating it. From there the stock gave up a lot of ground on investor concerns about the future of the company.
The second analysis was published on Sept. 10, 2010 when the shares were trading for $13.00. The issue at the time was investor reaction to less than stellar performance and perhaps more selling to come. The stock retested $12.00 in mid October after which it began a climb to $19.00. With that as background, another run at the charts will provide a more current assessment of the opportunities and risks associated with MFC.
The company is expected to report its first quarter results on or about May 3, so watch the trend that develops as we get closer to that flex point. Trade this one for income.
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