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

Published on Mon, 04/22/2013 - 07:32
By Mallory Stone

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 $84.24 and $84.94 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 share prices have moved between a 52-week high of $86.61 and a 52-week low of $60.08 and closed yesterday at 41% above that low price at $84.81 per share. The 200-day and 50-day moving averages have moved 0.77% higher and 0.76% higher over the past week, respectively.

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.

Travelers (NYSE:TRV) defies analysts with a current price ($84.81) 1.6% above its average consensus price target of $83.41. The stock should discover initial support at its 50-day moving average (MA) of $82.43 and subsequent support at its 200-day MA of $72.57.

By Mallory Stone