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Possible Bearish Inside Day Candle Pattern Detected for Amer Finl Group (NYSE:AFG)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Amer Finl Group (NYSE:AFG) based on the price action in the company's shares. Today's price range of $106.06 and $106.06 is within yesterday'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. Owners of Amer Finl Group may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Amer Finl Group have traded between a low of $84.18 and a high of $114.65 and are now at $106.06, which is 26% above that low price. The 200-day and 50-day moving averages have moved 0.01% lower and 0.05% higher over the past week, respectively.

American Financial Group, Inc. provides multi-line property and casualty insurance. The Company also sells tax-deferred annuities and certain life and supplemental health insurance products. American Financial operates in the United States.

Potential upside of 16.4% exists for Amer Finl Group, based on a current level of $106.06 and analysts' average consensus price target of $123.50. Amer Finl Group shares have support at the 50-day moving average (MA) of $102.34 and additional support at the 200-day MA of $98.81.

SmarTrend is monitoring the recent change of momentum in Amer Finl Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Amer Finl Group in search of a potential trend change.

Keywords: bearish inside day candle amer finl group

Ticker(s): AFG