Voya Financial Inc (NYSE: VOYA)

Voya Financial, Inc. operates as a retirement, investment, and insurance company in the United States. The company has five segments: Retirement, Annuities, Investment Management, Individual Life, and Employee Benefits. The company was formerly known as ING U.S., Inc. and changed its name to Voya Financial, Inc. on April 7, 2014. The company was incorporated in 1999 and is headquartered in New York, New York. Voya Financial, Inc. is a former subsidiary of ING Insurance International B.V.

To review Voya’s stock, please take a look at the 1-year chart of VOYA (Voya Financial, Inc.) below with my added notations:

1-year chart of VOYA (Voya Financial, Inc.)

VOYA has been trading sideways for the last 7 months. Over that period of time the stock has formed a resistance area around $37.50 (blue). In addition, the stock has also created a level of support at $33 (green) that was also a resistance back in August. At some point the stock will have to break out of its current consolidation.

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The Tale of the Tape: VOYA has levels of support at $33 and resistance at $37.50. The possible long positions on the stock would be either on a pullback to $33, or on a breakout above $37.50. The ideal short opportunity would be on a break below $33.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT

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