Insurance and finance giant MetLife (NYSE:MET) has declined since it announced and completed its spinoff of Brighthouse Financial (NASDAQ:BHF). MET peaked out on July 6 at $50.42 a share. Since that high pivot, price has declined to $46.85. Traders and investors should note that MetLife does not have major chart support until the $43 level, which is an area where the stock broke out in November 2016. As I've said many time, when stocks retest major break-out levels they will usually find institutional support.
So keep MET on your radar when it trades down to $43 for a long-side trade.
