A 52 Week High for Aflac, will it Hold?

Published on Thursday, 18 October 2012 12:34 Written by TradersHuddle Wire

New York, October 18th (TradersHuddle.com) - Shares of Aflac, Inc. (NYSE:AFL) booked a new 52 week high today by trading above $50.36, traders are definitely monitoring Aflac's price action to see if this move attracts further buying into the stock.

Aflac, Inc. (NYSE:AFL) and through its subsidiaries, provides supplemental insurance in the United States and Japan. Some of Aflac's products include accident/disability plans, cancer expense plans, short-term disability plans, sickness and hospital indemnity plans, and hospital intensive care plans.

Aflac is currently trading -0.29% versus its previous trading session close, and it has calculated support and resistance at $46.35 and $49.15 respectively. Clearly, with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range.

The overall market index S&P 500 is trading higher by 0.14% from its previous trading close, which means that Aflac stock is underperforming the overall market.