American Equity Investment Life Holding Company, through its
subsidiaries, operates in the insurance business in 50 states and the
District of Columbia. It underwrites fixed annuities, including fixed
index annuities and fixed rate annuities, as well as single premium
immediate annuities. The company also offers life insurance products
comprising traditional ordinary and term, universal life, and other
interest-sensitive life insurance products. It targets group of
individuals aging 45-75 who are seeking to accumulate tax-deferred
savings. The company markets its products through a brokerage
distribution network of approximately 45 national marketing
organizations and approximately 27,000 independent agents.
Take a look at the 1-year chart of American Equity (NYSE: AEL) with the added notations:
After rallying straight up from November into January, AEL then fell
back down just as fast. The stock has since stabilized and moved into a
sideways range. While trading in that range, the stock has hit a very
important area of resistance near $25 (purple). If the stock can break
above its $25 resistance zone higher prices should follow.
The Tale of the Tape: AEL has a zone of resistance
around $25. A long trade could be entered on a break through that area.
However, if you are bearish on the stock, a short trade could be made on
any rallies up to $25.
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