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Possible Bearish Inside Day Candle Pattern Detected for Chubb Ltd (NYSE:CB)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Chubb Ltd (NYSE:CB) based on the price action in the company's shares. Yesterday's price range of $153.00 and $153.14 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. Owners of Chubb Ltd may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Chubb Limited operates as a property and casualty insurance company. The Company provides commercial and personal property, casualty, and personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients.

Chubb Ltd share prices have moved between a 52-week high of $162.44 and a 52-week low of $128.58 and closed yesterday at 18% above that low price at $152.31 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Chubb Ltd has overhead space with shares priced $152.31, or 4.9% below the average consensus analyst price target of $160.13. The stock should find resistance at its 50-day moving average (MA) of $152.87, as well as support at its 200-day MA of $151.15.

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

Keywords: bearish am inside day candle chubb ltd

Ticker(s): CB