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Possible Bearish Inside Day Candle Pattern Detected for Cna Finl Corp (NYSE:CNA)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cna Finl Corp (NYSE:CNA) based on the price action in the company's shares. Yesterday's price range of $43.64 and $43.64 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 Cna Finl Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Cna Finl Corp has traded in a range of $41.49 to $52.52 and closed yesterday at $43.65, 5% above that low. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

There is potential upside of 26.8% for shares of Cna Finl Corp based on a current price of $43.65 and an average consensus analyst price target of $55.33. Cna Finl Corp shares should first meet resistance at the 50-day moving average (MA) of $44.48 and find additional resistance at the 200-day MA of $45.47.

CNA Financial Corporation operates as an insurance holding company. The Company, through its subsidiaries, provides commercial property and casualty coverages such as risk management, information services, warranty, and claims administration.

SmarTrend is tracking the current trend status for Cna Finl Corp and will alert subscribers who have CNA in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle cna finl corp

Ticker(s): CNA