Aviva shares within an upward-sloping channel

Aviva, the insurance group, reported 9-month life PVNBP (present value of new business premiums) of 32.1 billion pounds.

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Aviva, the insurance group, reported 9-month life PVNBP (present value of new business premiums) of 32.1 billion pounds, compared with 32.4 billion pounds in the prior-year period, and value of new business dropped 13.8% on year to 714 million pounds. The company said it currently expects to recommend a final dividend of 14.0p per share, taking full-year dividend to 21.0p per share, compared with 15.5p per share in the prior year.

From a chartist point of view, the stock price is posting a rebound and is nearing the upper end of an upward-sloping channel. A short term pullback cannot be ruled out. Prices need to stand above 251.5p to maintain the bullish bias. A break above the resistance at 352p would open a path to see 408p. 

Source: GAIN Capital, TradingView


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