Stocks to watch on Tuesday: CE, IEX, SONC >>> READ MORE

Trade of the Day: Allstate (ALL)

Go long ALL for 8% upside


Click to Enlarge
(NYSE:ALL) is a major U.S. insurance carrier that specializes in life and property/casualty insurance.

Shares have been rising all year so I believe we’re in good hands.  Like its peers Travelers (NYSE:TRV) and Progressive (NYSE:PGR), ALL is still in a great groove, so I am expecting it to rebound robustly as their investment portfolios improve.

On Friday, the stock turned around and finished at its high of the session.  Then Monday, it found footing at its 30-day average.  This big insurance provider has been one of the best stocks on the board all year, and I suspect the past few days have just been a quick breather that should allow you to enter the trade.

Recommendation: Buy ALL for a $53.00  target.

Click here to receive the Trade of the Day in your inbox every day.

InvestorPlace advisor Jon Markman operates the investment firm Markman Capital Insight. He also writes a daily swing trading newsletter, Trader’s Advantage, which aims to capture profits of 15% to 40% and often as much at 100% to 200% in less than 90 days.

Professional traders and hedge funds make huge profits off volatility.  Now, Jon’s service CounterPoint Options levels the playing field with the first service geared towards helping individual traders make steady, consistent profits with the VIX.  Get more information on Trader’s Advantage and CounterPoint Options today.

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC