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.