Corebridge Financial: #PowerStocks Series Pick Of The Week (January 2024)

Have you taken a rollercoaster ride? I took one in Nov 2023 while in Hong Kong with my team. Rollercoaster rides aren't for the faint-hearted. One moment, you are enjoying the ascent and view. The next moment, you've got to endure a sharp drop with the wind blowing hard against your face. Why put yourself through the "torture"? It's the thrill that attracts. Likewise, the S&P 500 has been rising fast and furious, with tiny breaks in between. The worry is... A sharp drop (or snap) could be just around the corner because of this hidden divergence. Therefore, I wouldn't want to be aggressive now. Keeping this at the back of your mind, let's review last week's stock pick: US Foods (USFD).

Review Of Last Week's Pick Of The Week

Although the share price of US Foods is pulling back, it has not retraced to the price area I'm keenly waiting for, ~$45. It pays to continue waiting before applying the Art of Explosive Profits strategy. Because you have a day job and other commitments, you can set a price alert ~$45 to help you track this stock. With that, why is Corebridge Financial (CRBG) our #PowerStocks pick of the week?

Why Is Swing Trading Corebridge Financial (CRBG) Worth It?

Source: corebridgefinancial.com

Corebridge Financial (CRBG), this week’s #PowerStocks pick of the week, provides retirement solutions and insurance products in the US. Traders and investors are attracted to its stock, pushing its share price higher, forming a strong uptrend. Furthermore, each up move has been explosive! Let’s analyze its shares! P.S.: What if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short period of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!

Performance Of US Stock Market vs Corebridge Financial (CRBG)

In the US stock market, the S&P 500 is the benchmark. Traders and investors are considered to be successful if they can achieve returns that are higher than the market's. To achieve success, you'll want to be swing trading strong stocks. Therefore, it's a good idea to compare the performance of Corebridge Financial's shares against the S&P 500. What do you notice from the comparison chart above? Did you notice that Corebridge Financial's share price is in a powerful uptrend? In addition, it has been outperforming the S&P 500 since late-Dec 2023! So, let's analyze the shares of Corebridge Financial further.

How Explosive Is Corebridge Financial (CRBG)?

Looking at the chart of Corebridge Financial, it's without a doubt that its up moves are explosive! What makes this more incredible? Its share price has proven to explode between 5.2% to 20.1% despite being a company with a large market capitalization of $15b! Having exploded 13.1%, should you be looking to buy its shares for a swing trade now?

Key Price Levels

Here's how you can arrive at your conclusion. In this case, you'll need to zoom its chart out to 2022 to uncover its key price level at ~$23. Yes, this key level is also known as a support zone where its share price is likely to bounce at. After a run-up of 13.1%, I think that a pullback is near. And the share price of Corebridge Financial is likely to retreat to ~$23 before rising once again. Hence, I'll be patiently waiting at the price area ~$23 before considering entering for a swing trade. Finally, this is for educational purposes. Please perform your due diligence. All images are taken from pexels.com, pixabay.com, sectorspdrs.com, tradingview.com, and unsplash.com, unless otherwise mentioned.

Claim Your Free (Limited Time) Stock Course Right Now:

The stock market is full of traps laid out by professional traders. Many new traders are often left confused by conflicting signs and signals. Worse still, ~80% of traders lose money. This is because trading isn't just about skill alone. It includes the mastery of your emotions. But what if I told you that you could drastically gain control over your emotions of fear and greed, and master the stock market in a short period of time? My team and I have worked tirelessly to help you achieve results fast. Click on the banner below to claim your stock course for free (limited time) now!