Trading Idea - Assurant Breaking Out?

Published on Friday, 03 February 2012 07:52 Written by Christopher Lynn

New York, February 3rd (TradersHuddle.com) - Shares of Assurant, Inc. (NYSE:AIZ) closed the trading session at $41.41 just above calculated resistance at $40.16 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Assurant, Inc. (NYSE:AIZ) provides specialized insurance and insurance-related products. The insurer offers individual and small employer group health insurance, group dental insurance, pre-funded funeral insurance, group disability and life insurance, creditor-placed homeowners insurance, manufactured housing homeowners insurance, debt protection administration, credit insurance, and warranties.

Assurant's stock was trading in a well defined range with support at $37.58 and resistance at $40.16, given that this range was broken traders will be closely monitoring the stock