Allstate Corp’s. (ALL) up move since 2009 was broken into two phases. The first leg of the rally lasted for over 2 years but with a return of just 40%, the second leg of the rally however began in Oct 2011 and has signaled an end now, 20 months after it began, with a total return on investment of over 82%. The second leg of the rally started with the original resistance, signaling an entry, at 25.6 with an entry price of 26.4 in October 2011. The exit has been signaled on the break of an important resistance at 47.1 with a close at 46.6.
Now the stock looks to be in a downwards to sideways zone, critical support lies at 41.5, which if broken significantly will send the stock into a long sideways cycle to a bearish cycle. As of now the stock is an exit for investors.
Now the stock looks to be in a downwards to sideways zone, critical support lies at 41.5, which if broken significantly will send the stock into a long sideways cycle to a bearish cycle. As of now the stock is an exit for investors.
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