Genworth Financial (GNW) Poised to Continue Powerful Uptrend

09/01/2009 12:01 am EST

Focus: STOCKS

Genworth Financial (GNW) - This financial security company, which provides insurance, wealth management, and investment and financial solutions in the United States and internationally, is in a bull market that began in March.



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Since March, the stock ran from less than $2 to more than $10 on August 28.

Heavy volume accompanied the buying, and it has been supported by the 50-day moving average and a trend line, which is now at $8.

The stock may have gotten ahead of itself, but it is in a powerful uptrend, so investors may want to take a half position now and wait for an opportunity to bring it to a full position. 

By Sam Collins of OptionsZone.com

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