Genworth Financial (GNW) Poised to Continue Powerful Uptrend
09/01/2009 12:01 am EST
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.
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