Short Metlife Inc It Will Pay
Over the last several weeks we have seen the yield on the 10 year note trend lower and get to levels not seen in a year. This has taken a toll on insurers like Metlife Inc (NYSE:MET), as the stock had fallen a sharp 11% over the month of July. This was due in part to lower interest rates and a declining stock market. Shares of Metlife Inc (NYSE:MET) have had a decent bounce right alongside the broader markets but is now coming into an interesting level of resistance. I have isolated the $54.25 area as a place where traders and investors could trade this stock on the short side. The reason I have chosen that area is because that was a key level of support which was broken on the way down. In the world of technical analysis, when support is broken, it acts as resistance when the stock tries to challenge it from the underside. Should the level provide stiff resistance as I suspect, then traders could see shares of Metlife Inc (NYSE:MET) easily fall back to the $52.50 area, which would be a quick 3.22% gain in "short" order.