Shares of MetLife ( MET) have climbed since July and a major sell-side firm just made it a new buy recommendation with a $77 price target. Let's check out the charts and indicators to see how the fundamentals and technicals can work in alignment.
In the daily bar chart of MET, below, we can see how the shares have made higher lows and higher highs since July. Prices have recently been testing the March lows and the 200-day moving average line, but a new trend lower has not developed. MET tested and broke the 200-day moving average line in December but managed to resume the uptrend. Maybe we are seeing a repeat performance now. The slope of the 200-day moving average line is slightly positive.
The On-Balance-Volume (OBV) line shows improvement from December. The Moving Average Convergence Divergence (MACD) oscillator is in a bearish alignment below the zero line but it has been narrowing and we could soon see a cover shorts buy signal. 
In the weekly Japanese candlestick chart of MET, below, we can see some positive clues. Prices are trading below the 40-week moving average line but we see some lower shadows telling us that traders are rejecting the lows.
Trading volume has declined into the recent low and the OBV line shows minimal weakness. The MACD oscillator is pointed down but is still above the zero line.
In this daily Point and Figure chart of MET, below, we can see that a trade at $66 will likely turn the chart more positive. Meanwhile, a downside price target of $58 is not the end of the world.
In this weekly Point and Figure chart of MET, below, the $58 price target appears again.
Bottom-line strategy: Aggressive traders could go long MET at current levels risking to $60 or on strength above $66 risking to $61. Look for gains near $80 in the weeks ahead.
