MetLife, Inc

By root | February 12, 2008 AAA

For today's chart we've chosen to take a look at MetLife Inc. (NYSE:MET) because it is trading near a significant level of resistance. As you can see from the chart below, the stock has recorded a series of lower highs, which is often used by traders to signal an established downtrend. In addition, we've noticed that the 50-day moving average has prevented the stock from moving higher on several occasions and there is no reason to expect this story to change now.

We expect that bearish traders will watch for a move toward the January low of $52.46 and they will likely protect their positions by setting a stop-loss order above the recent high (shown by the dotted line). Investors who are considering purchasing this stock may want to wait until the bulls are able to push the price above the mentioned resistance levels.

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