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5 Financial Stocks to Trade for Gains

American Financial Group

Things have been comparatively good this year for shares of American Financial Group (AFG - Get Report), a mid-cap property and casualty insurance company that's rallied 10.47% year-to-date in addition to a 1.96% dividend yield for shareholders. As positive as this stock's performance may have been in 2011, shares look primed to deliver more stock outperformance in 2012.

That's thanks to a bullish ascending triangle setup in shares. An ascending triangle can be identified by a staunch horizontal resistance level (at $37, in AFG's case) and uptrending support below shares. When this stock breaks out above that $37 level, it's a signal that it's time to become a buyer of this stock.

>>5 Stocks to Buy for a Santa Claus Rally

The 50-day moving average is acting like a reasonable proxy for support right now. For that reason, it makes sense to use that MA as a protectivee stop level for AFG. Because the moving average approximates the trend in this stock, it'll act as a trailing stop.
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AMP $96.41 -1.80%
AFG $68.65 -0.33%
BKU $34.33 -0.46%
CM $81.33 0.40%
KIM $28.10 -1.10%


Chart of I:DJI
DOW 17,734.30 -96.46 -0.54%
S&P 500 2,064.27 -11.54 -0.56%
NASDAQ 4,781.1390 -24.1520 -0.50%

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