Sun Life Financial Inc. built what looks like a large double bottom near the $20 level (dotted lines). The Leg 1 of a new bull-move began at that stage, which brought the stock to the $42-$43 level in 2014 (A). This was followed by a horizontal trading range until now (dashed lines). Behaviour indicators including a positive 40-week moving average (40wMA) and the rising trend-line (solid line) support a potential break-out. Only a sustained decline below $40-$40.50 would be negative. A major break-out above $43-$44 would signal the beginning of a new up-leg toward Point & Figure targets of $49 and $54.
Monica Rizk is the senior technical analyst and Ron Meisels is the president of Phases & Cycles Inc. and he tweets at @Ronsbriefs. They may hold shares in companies profiled. Chart source: http://www.decisionplus.com/.