Possible Bullish Inside Day Candle Pattern Detected for Travelers (NYSE:TRV)

Published on Mon, 05/04/2015 - 07:34
By Peter Chu in Candlestick, TRV, bullish am inside day candle, nyse:trv, travelers

Analysts have spotted a possible bullish inside day candle pattern in Travelers (NYSE:TRV) based on the price action in the company's shares. Yesterday's price range of $101.49 and $102.21 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Travelers may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Travelers has overhead space with shares priced $102.12, or 5.4% below the average consensus analyst price target of $107.95. The stock should find resistance at its 50-day moving average (MA) of $106.86, as well as support at its 200-day MA of $101.07.

Over the past year, Travelers has traded in a range of $88.79 to $110.49 and closed yesterday at $102.12, 15% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.4% while the 200-day MA has risen 0.2%.

The Travelers Companies, Inc. provides commercial property casualty insurance and asset management services to businesses, government units, associations and individuals. The Company underwrites homeowners and auto insurance through independent agents.

By Peter Chu
pchu@fnno.com

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