Insurance Companies Continue to Tumble
Aflac Inc.(NYSE:AFL) is trading sharply lower this morning. The leading insurance stock is declining lower by $5.28 to $48.67 a share. On March 1, 2011 this stock was trading at a new 52 week high at $59.54 a share. This stock has sold off sharply since the Japan earthquake. Right now the daily chart of AFL is in a weak technical chart position as it is trading below all of its daily moving averages. Traders can watch for intra-day support around the $47.00 level.
Other major insurance stocks that are declining lower this morning are MetLife Inc.(NYSE:MET), Hartford Group Inc.(NYSE:HIG), and American International Group Inc.(NYSE:AIG). Traders and investors could see lower prices in all of the major insurance companies as the bounces in the market this morning have been minimal.