This Insurance Stock is Poised for a Breakout
CBChubb(CB) Schaeffers Investment Research·2024-09-06 22:00

Insurance stock Chubb Ltd (NYSE:CB) is breaking out to weekly highs after being range-bound since May, when Warren Buffett’s Berkshire Hathaway (BRK) disclosed a position in the company. The equity recently conquered the 20% year-to-date level, which had been capping its price action, making this a great opportunity to buy calls. Short interest has increased 31.8% over the past month, but with the stock’s recent breakout there is potential for shorts to start covering their bets. Plus, 12 of 24 analysts in ...