Alleghany Corporation (Y)

Purchase Info

Stock Price History

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Our View

Alleghany Corp is a casualty and property insurance business based out of New York. Alleghany also owns subsidiaries that are involved in reinsurance and other insurance operations. Insurance premiums are on the uptrend, aiding the company’s growth. Alleghany also has a business segment that invests in stocks. The company has a portfolio of 30 companies that includes Amazon and Microsoft. Alleghany could turn out to be a Berkshire Hathaway-like stock and its long-term growth could be significant.
The Long term monthly chart for Alleghany shows a nice and steady uptrend since 2010. March 2020 has been the only time when the bottom of the long-term trend was violated. In fact, prices fell by a massive 50% from the peak of February 2020 during that month. Since then, it has taken more than a year for prices to go back above the bottom trendline. There are no major resistance zones present and the price target looks likely to be $800. A minimum stop loss can be placed at the low of the April 2021 candle, which is $620.

Position entered to our long-term tracking portfolio today. The entry point is at $694.82
and stop-loss $549.82, which is 20 % below the entry point. The short-term to medium term take profit at the top of the trend is set at $831.97 giving a profit of 20%.

Data Explained

On the video and images above you will see the reason this stock was selected.

You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.

Once it is time to move the original stop loss up you will see an additional image.

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