Chubb Limited (CB) Showing Signs for Upside to $140
Chubb Limited $CB has shifted from a bearish trend to a sideways one. Now, it is showing some subtle bullish signs that should open up a push to $140-$141 in the coming weeks.
CB Daily Chart

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Shifting Trend:
- We can see that the market was bearish entering 2019.
- However, price stopped making lower lows after it found support around $120.
- Also, price was able to limb above the cluster of 200-, 100-, and 50-day simple moving averages (SMAs).
- Furthermore price is no longer trading under a falling trendline resistance.
- The last vestige of the bearish momentum is the RSI which is still under 60.
- However, I think the fat that price is consolidating at the upper half of the current range suggests there is some bullish bias.
- I am don't think we should rely on the resistance here at $135-$136.
- Instead, I think price will push through to test the $140-$141 resistance.
- In a sideways market, I think this $140-$141 resistance will be critical and will be respected in the short to medium-term.
- Now, a break above this resistance would be a major bullish continuation signal.
- On the weekly chart, we can see that the prevailing trend has been bullish, so a break above $142 for example, would opn up the at least the highs around $157, with a potential of extending the bullish trend higher.
- I believe in this bullish case, but believe there will be another significant period of consolidation (like in Oct-Dec 2018) before the breakout and bullish continuation.
CB Weekly Chart

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