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Play the referendum and the break above MA200: Buy.IMPROVING FUNDAMENTALS? The consensus is lukewarm: Mild BUY with 10% target upside But the yield (up) and market (up) environments have been improving The Italian referendum is unlikely to impact materially this global insurer Valuation remains compelling at <80% of book value IMPROVING TECHNICALS Clear support line formed since the summer - Current level 11.50 Yesterday attempted to break main resistance by closing > 12.20 Yesterday also closed above MA200 at 12.00 - Another positive sign Looks slightly over-extended on short/mid term as it is trading at the hi bollinger band LONG-TERM LONG Stock price reference 12.16 (now) Go long here with 13.00 and then 14.00 (+15%) targets Stop-loss at 11.25 (-7.5%), just below the 11.50 support RR 2x Referendum fears: Trade half size before Sunday and another half after Sunday. MORE CAUTIOUS INVESTORS: USE PUT OPTIONS Selling 16dec16 Eur 11.50 puts brings in 0.21/share (yield 1.7% in 14 days or 44.45% per annum) Selling 20jan17 Eur 11.50 puts brings in 0.37/share (yield 3.04% in 49 days or 22.62% per annum)
MIL:GLong
by HAL9000