MFC Stock Near 52-Week High: A Signal for Investors to Hold Tight?

Shares of Manulife Financial Corporation (MFC) closed at $30.48 on Wednesday, near its 52-week high of $33.07. This proximity underscores investor confidence. It has the ingredients for further price appreciation. The stock is trading above the 50-day and 200-day simple moving averages (SMA) of $30.07 and $28.92, respectively, indicating solid upward momentum. SMA is a widely used technical analysis tool to predict future price trends by analyzing historical price data.The life insurer has a solid track rec ...