The stock is Allstate the insurance company (ALL). It’s tried to breakout of the 210-220 range 8 times in the past year and a bit. It’s consolidating so much that once this breaks out it’s going to shoot up like crazy.
It trades at a P/E ratio of 5!!! When the market realizes it is wayyy to cheap and undervalued it can triple from here and still have below a market value. That’s crazy and not even including any growth whatsoever. In my opinion this stock could be a 5xer including just a little bit of growth. If it surprises any upside on expectations then watch out.
It’s last earnings they implemented a $4 billion buyback program on a market cap of $58 billion. Its earnings were $10.65 which was over 45% more than analyst expectations. In my opinion this is one of the cheapest stocks out there and could be one of the very best opportunities.