Post by
Carlos66 on May 23, 2016 10:55am
chart....gap to be filled
otherwise the chart is terrible except for OBV which has turned up on the recent pullback possible to retest the previous low.
Mov. avgs. are all still in decline & CCI has reversed its up trend.
If this is the stock price reaction to Q1 earnings & if the divesture of UK annuity business (that's what has kept Manulife down) will impact Q2 earnings as mgmt has said will happen
(Aegon said the capital generated from the U.K. operations will be reduced by about 30 million pounds, while earnings will fall by about 16 million pounds a year. The deal will also lead to a one-time loss of about 215 million pounds, which will be reported in the second quarter.)...then we may have lower to go & the retesting of its most recent low may not hold.
However if the earnings fall & one-time loss are less then we may have mini rally.
Here's hoping.
carlos