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Travelers Bullish Moving Average Crossover Alert (TRV)

Published on Wed, 02/27/2013 - 12:11
By Mallory Stone

Travelers (NYSE:TRV) crossed over its 10-day moving average of $80.27 on a volume of 430K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Travelers has overhead space with shares priced $80.54, or 3.2% below the average consensus analyst price target of $83.18. The stock should find initial support at its 50-day moving average (MA) of $76.41 and further support at its 200-day MA of $68.76.

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.

In the past 52 weeks, Travelers share prices have been bracketed by a low of $55.86 and a high of $81.15 and are now at $80.54, 44% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has risen 0.3%.

By Mallory Stone
mstone@fnno.com