Manulife Financial Corp (MFC) has been under a strong bear grip, hence the stock is down -2.75% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.26% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.87% in the last 1 week, and is up 3.82% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Manulife Financial Corp (NYSE:MFC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.78 and $13.69 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.85, notching a gain of 0.87% for the day. The total traded volume was 1,688,070 . The stock had closed at $13.73 on the previous day.
The stock has recorded a 20-day Moving Average of 2.85% and the 50-Day Moving Average is 1.23%. Manulife Financial Corporation has dropped 5.72% during the last 3-month period . Year-to-Date the stock performance stands at -5.6%.
Manulife Financial Corp is a Canada-based financial services and life insurance company. The Company offers financial protection and wealth management products and services. It caters to personal and business clients. It also provides asset management services to institutional customers. Its operating segments are Asia, Canadian and U.S. Divisions, and the Corporate and Other segment. Its Asia, Canadian and U.S. Divisions segment offers protection and wealth management services, such as life insurance and individual group long-term care insurance, annuities, pension contracts and mutual fund products and services, retirement products, and deposit and credit products to Canadian customers, among others. The Companys Corporate and Other segment consists of investment performance on assets backing capital, net of amounts allocated to operating division and financing costs, external asset management business, and property and casualty (P&C) reinsurance business, among others.