Post by
BalanceBeam17y8 on Nov 26, 2024 6:38am
Watch the Chart – $MFC.TO is Definitely Consolidating
Been keeping an eye on Manulife ($MFC.TO) lately, and it’s pretty clear this thing is consolidating. Range-bound between $24.50 and $26.50 for a while now. Looks like it’s waiting for some kind of catalyst to break out of that range, and with the earnings report around the corner, that could be it. If we get a good earnings beat or any positive news on the Asia front, this could break the resistance at $26.50 and push higher. But be cautious, though — if they miss on expectations or if the market gets hit hard, we could see a pullback to $24 or even $23.I'm looking at the RSI, and it’s not in overbought territory, so there’s still room to move either way. Definitely gonna keep a small position here, just to stay in the game. Might add more if we get a solid breakout above $26. But for now, it’s a “wait and see” for me. On the flip side, $BOLT has caught my attention. The buzz around this one is real. Could be a nice momentum trade if it picks up steam in the coming weeks, especially with some of the tech sector heating up. Not sure if it'll rival the stability of MFC, but definitely something to keep on your radar if you like riskier plays.