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Rant & Rave Blog

MetLife Retreats After Spin-off, Watch This Level

Posted by Nick Santiago Thursday, August 10, 2017, 12:01PM ET

Read 307 times

Leading insurance and financial firm MetLife Inc (NYSE:MET) has declined since it announced and completed its spinoff of Brighthouse Financial (NASDAQ:BHF). MET stock peaked out on July 6th at $50.42 a share. Since that high pivot in the stock price the shares have declined to $46.85. Traders and investors should note that MET stock does not have major chart support until the $43.00 level. This is a spot on the chart where the stock broke out in November 2016. As I have stated many time before, when stocks retest major break-out levels they will usually be support by the institutional money. Keep MET stock on the radar when it trades down to the $43.00 level for a long side trade.

 

 

 

Nick Santiago

www.inthemoneystocks.com

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