QBE Insurance has been in a consolidation pattern for the last 4 months like the rest of the market. The stock is presently poised and is in an inverse head and shoulder pattern.
A break of Fridays high should see the neckline nicely broken on this inverse head and shoulders pattern and potentially target somewhere towards the $25.00 level.
The stock is currently trading on a attractive yield of 5.44% and with a price to earnings on just under 11 times the stock is not expensive compared to historicals.
Its something to watch closely over the next couple of weeks.
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