In April we noted that Chubb Limited $CB retreated from resistance around $141. but could remain bullish if it holds above the $132. We noted that the trend had shifted from a bearish to a sideways one, and could be shifting into a bullish one if price breaks the $141.25 resistance.

Chubb Limited (CB) Retreats from Key Resistance

It turned out that price respected a previous resistance at $135.60 and then broke above the $141.25 at the end of April. Now in May, it continues to show us bullish signals after the breakout.

CB Daily Chart

(click to enlarge)

Bullish Signals:
- The earliest bullish signal was when price broke above the moving averages as well as the falling resistance by February 2019. Even though the price high of $135.60 was still holding, price managed to show respect to the broken resistance factors as support, which was a major sign that bulls were taking over.
- Then, the break above $135.60 was key in establishing higher highs.
- Then, the RSI pushed above 70, which signaled initiation of bullish momentum.
- In April, as we mentioned above, price turned the $135.60 resistance into support.
- Finally, the market provided the latest bullish signal last week.
- CB retreated from around $145, but found support around $141.30, right around the previous resistance. 
- For CB in 2019, resistance turning into support has been a strong signal that bulls are still in charge.
- I think CB could be heading towards the highs from 2018, which is just above $155. We can therefore anticipate upside towards $150. 

Chubb Limited is an insurance company and won't be affected directly by the China-US trade war. Financials in general will likely stay buoyed during this period unless other factors for risk aversion spring up.