Aetna Inc. operates as a diversified health care benefits company in
the United States. The company operates in three segments: Health Care,
Group Insurance, and Large Case Pensions. The Health Care segment
provides medical, pharmacy benefit management, dental, behavioral
health, and vision plans on an insured basis, and an employer-funded or
administrative basis. The Group Insurance segment provides life
insurance products comprising group term life insurance, voluntary
spouse and dependent term life insurance, group universal life, and
accidental death and dismemberment insurance; disability insurance
products; and long-term care insurance products, which offer benefits to
cover the cost of care in private home settings, adult day care,
assisted living, or nursing facilities. The Large Case Pensions segment
manages various retirement products, including pension and annuity
products for tax-qualified pension plans. The company’s customers
include employer groups, individuals, college students, part-time and
hourly workers, health plans, health care providers, governmental units,
government-sponsored plans, labor groups, and expatriates.
Take a look at the 1-year chart of Aetna (NYSE: AET) below with added notations:
After running up to $85 in July, AET pulled back sharply into August.
The stock followed that pullback with another run up to $85, and again,
pulled back even further. The stock has now tested the $85 level again
(green), and may be looking to finally break thru that $85 resistance.
That break would also constitute a new 52-week high.
The Tale of the Tape: AET has a 52-week resistance at $85. The possible long position for AET would be on a breakout above $85.
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