IA Financial (IAG-T, Monday’s close $142.75)traded in a horizontal range mostly between $80 and $94 from 2023 to 2024 (dashed lines) and then had a breakout from this range and reached a high of $137.34 in November 2024 (A). The stock was overbought at that time and far above its 40-week Moving Average (40wMA); it then settled in a corrective trading range mostly between $121 and $140 (dotted lines), allowing the average the time needed to catch up to the price. The recent advance above the top of this range suggests a breakout (B); a sustained rise above $141-143 would confirm it.
Behaviour indicators including the rising 40wMA and the rising trendline (solid line) confirm the bullish status. There is good support near $129-130; only a sustained decline below this level would be negative.
Point & Figure measurements provide targets of $159 and $174. Higher targets are visible.
stock
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com