July 25 MAPFRE issues Q2 Results. Bullish trend seems undoubtful

Mapfre is an unstable stock. We are now situated in the middle of the bullish channel, so no operations must be made right now. It is better to wait and see. If next week there are high expectations on Q2 Results, MAP will approach the upper bound of the bullish channel. However, if results disappoint investors high instability is expected to appear as of July 25. Therefore, a good strategy would be betting on shorting Mapfre once MAP has reached the upper bound (or is about to, not in the middle of the bullish channel) and take advantage of the volatility. Nevertheless, we must take into account that lately Mapfre has increased its number of clients and its health insurance sales which would imply a continuation to its upward trend in the long-run. It is also true that we are right now in Hurricane season and until today it's looking softer than previous years. We'll see how it goes all along.

Kommentera:

Mapfre out of its bullish channel before reaching upper bound due to quarterly results issue by spanish financial companies.