QBE Insurance posted an $844 million net profit on May 3rd, which was their best result since 2010.
By May 11th, the share price had raced to a new high for the year at $13.60.
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With internal momentum indicators beginning to turn lower, we are suggesting to exit long positions or sell the $13.50 covered calls into September.
We expect to see good support in the $12.00 area as a medium term target.
QBE
