Long Position on AFL @ $80.00 on 11/10/2023 (Momentum)

Aflac Incorporated (AFL) provides supplemental health and life insurance products. 

It operates in two segments, Aflac Japan and Aflac U.S.

The Aflac Japan segment offers cancer, medical, nursing care, work leave, GIFT, and whole and term life insurance products, as well as WAYS and child endowment plans under saving type insurance products in Japan.

The Aflac U.S. segment provides cancer, accident, short-term disability, critical illness, hospital indemnity, dental, vision, long-term care and disability, and term and whole life insurance products in the United States.

It sells its products through sales associates, brokers, independent corporate agencies, individual agencies, and affiliated corporate agencies. 

Shares have formed a bullish "flag" after the company reported strong results. Higher share prices are expected.  

On November 1st, AFL reported earnings of $1.84 per share on revenue of $4.95 billion for the third quarter ended September 2023. The consensus earnings estimate was $1.44 per share on revenue of $4.33 billion. The company beat expectations by 20.26%

Entry Point: $80.00

Stop Loss: $76.00

Trading Range: $60.20 to $82.715

Target Price: $88.00

Position closed on 12/12/2023 at price of $85.00 with a 6.25% gain in 32 days.

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