At the start of October, one of the stocks that looked very attractive was Allianz. This is a German multinational financial services company and one that is potentially attractive in a rate hiking cycle. Generally speaking, higher interest rates benefit financial services companies, so that was why the companies’ strong seasonal pattern caught the attention.
Over the last 25 years, Allianz shares have returned an average of 9.39%. It was these strong seasonals that prompted an Allianz long. The shares were purchased from daily support and sold at daily resistance for a return of over 6%.
HYCM clients can access the Seasonax product in order to analyse over 25,000 currency pairs, indices, commodities, as well as individual stocks. Please contact your account manager for a free trial. Certain products & services mentioned herein may or may not be available to all clients depending on which HYCM Capital Markets Group entity their trading account(s) adheres to.