China Life Insurance Near Overbought Level After Rally: ChartBy
A 15 percent rally in China Life Insurance Co.’s U.S.-traded shares has pushed its relative strength index to near 70, a level that frequently precedes a reversal. When the momentum gauge last breached that line in April 2015, a 10 percent drop followed. The nation’s largest life insurer, whose first-quarter net income was less than half of what it was a year earlier, has seen an acceleration in premium growth this year amid a surge in the number of insurance agents.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Musk Takes Down the Tesla and SpaceX Facebook Pages
- Trump Wanted a Trade War. Here’s What One Looks Like
- A Horror Week for the Dow Has Investors Begging for Trump Respite
- Stocks Tumble in Biggest Weekly Decline Since 2016: Markets Wrap
- Qantas Passes Aviation Milestone With Direct Perth-London Flight