Zak Mir’s big three calls for 2013
Aviva (AV.): Target 450p Stop Loss 345p I complete my Eurozone friendly trio for 2013 with insurer Aviva (AV.) which, more than most stocks in the FTSE 100, has been a proxy for the Sovereign Debt crisis among the so called PIIGS nations due to the exposure it has had to bonds in the Eurozone periphery. While as recently as last year, the group insisted it was happy with the £1bn plus worth of potential “junk” sat on its balance sheet and did not need to write it down; the share price has been a decent performer in the second half of 2012 implying the market is coming around to their way of thinking.
The shares have been helped along by speculation of a $1bn sale of its U.S. life insurance business, and with this outweighing and squeezing out the “euro- zone jitter” players, it could very well be that the present set up on the daily chart and the 450p target implied by the May rising trend channel could be seen before the end of February.
CHART -AVIVA
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January 2013
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