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Possible Bearish Inside Day Candle Pattern Detected for Cincinnati Fin (NASDAQ:CINF)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cincinnati Fin (NASDAQ:CINF) based on the price action in the company's shares. Yesterday's price range of $114.68 and $115.20 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 Cincinnati Fin may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Cincinnati Fin (NASDAQ:CINF) is currently priced 33.1% above its average consensus analyst price target of $76.20. Cincinnati Fin shares have support at the 200-day moving average (MA) of $107.44 and additional support at the 50-day MA of $106.65.

Cincinnati Financial Corporation, through its subsidiaries, offers property and casualty and life insurance. The Company markets a variety of insurance products and provides leasing and financing services.

In the past 52 weeks, shares of Cincinnati Fin have traded between a low of $83.00 and a high of $118.50 and closed yesterday at $113.85, which is 37% above that low price. The 200-day and 50-day moving averages have moved 0.18% higher and 0.38% higher over the past week, respectively.

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

Keywords: bearish am inside day candle cincinnati fin

Ticker(s): CINF