AIA Group Key Resistance level
AIA Group (1299), an insurance giant, reported that 1Q new business value dropped 28% on year....
Share this:
AIA Group (1299), an insurance giant, reported that 1Q new business value dropped 28% on year (-27% at constant exchange rates) to 841 million dollars and annualised new premiums declined 19% (-18% at constant exchange rates) to 1.48 billion dollars. The Company said the decline of new business value was caused by the indirect impacts of the COVID-19 pandemic.
From a technical point of view, the stock is capped by a declining trend line drawn from April 20 on a daily chart. The prices have formed a series of lower tops, suggesting that the rebound from March is possibly ended. In addition, both 20-day and 50-day moving averages are still declining. The RSI is capped by a falling trend line drawn from November 2019. Those technical indicators would suggest the negative outlook.Therefore, the bearish readers could set the nearest resistance level at HK$71.70 (the previous reaction high). As long as this level is not surpassed, the stock could consider to fill the gap at HK$64.40 and return to the March low at HK$60.00.
Source: GAIN Capital, TradingView
AIA Group (1299), an insurance giant, reported that 1Q new business value dropped 28% on year (-27% at constant exchange rates) to 841 million dollars and annualised new premiums declined 19% (-18% at constant exchange rates) to 1.48 billion dollars. The Company said the decline of new business value was caused by the indirect impacts of the COVID-19 pandemic.
From a technical point of view, the stock is capped by a declining trend line drawn from April 20 on a daily chart. The prices have formed a series of lower tops, suggesting that the rebound from March is possibly ended. In addition, both 20-day and 50-day moving averages are still declining. The RSI is capped by a falling trend line drawn from November 2019. Those technical indicators would suggest the negative outlook.Therefore, the bearish readers could set the nearest resistance level at HK$71.70 (the previous reaction high). As long as this level is not surpassed, the stock could consider to fill the gap at HK$64.40 and return to the March low at HK$60.00.
Source: GAIN Capital, TradingView
Latest market news
The complete CFD trading experience
Award-winning platforms, competitive spreads, low commissions and dedicated support.
We live and breathe the markets and are dedicated to helping traders realise their ambitions as we continue to set the industry bar.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500, Nasdaq, Dow Forecast: Rising Yields Test Rally Ahead of Nvidia, Fed 8 22 2026
S&P 500, Nasdaq and Dow test key technical levels as momentum fades, raising the risk of a deeper correction heading into a pivotal week.
GBP/USD, Dow Jones Forecast: Key Technical Scenarios to Watch
GBP/USD and the Dow Jones are approaching critical technical levels amid earning optimism, Fed rate hike expectations, US-Iran developments, and persistent geopolitical risks.
The U.S. Dollar Is Rising Again and Nasdaq Is Feeling It
Nasdaq, the U.S. Dollar Index and Federal Reserve expectations are driving market sentiment ahead of a pivotal FOMC meeting. Razan Hilal, StoneX Market Analyst, explains how rising expectations for a hawkish Federal Reserve, persistent U.S.-Iran tensions and key technical levels on the U.S. Dollar Index could influence currencies, equities and precious metals in the weeks ahead.
StoneX Europe Ltd may make third party material available on this website which may contain information included but not limited to the conditions of financial markets. The material is for information purposes only and does not contain, and should not be construed as containing, investment advice and/or investment recommendation and/or an investment research and/or an offer of or solicitation for any transactions in financial instruments; any decision to enter into a specific transaction shall be made by the client following an assessment by him/her of their situation.
StoneX Europe Ltd makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or other information supplied. You should always seek independent advice as to your suitability to speculate in any related markets and your ability to assume the associated risks, if you are at all unsure. We are not under any obligation to update any such material. Any opinion made may be personal to the author and may not reflect the opinion of StoneX Europe Ltd.