ERIE (Erie Indemnity Co.) offers an objective long entry on this backtest of the price channel & 234.60 support following the recent breakout. Daily chart below.
ERIE daily July 14th
My initial & current only price target zone (T1 zone) at this time runs from about 261.80 to 270, which would intersect with the falling 200-day EMA & SMA’s, if hit anytime soon. The suggested stop is a daily close below 224.90. I’ve also added two additional potential targets, which might be revised to official targets, depending on how the charts of ERIE, as well as the insurance brokers sector, develop going forward.