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Possible Bearish Inside Day Candle Pattern Detected for Genworth Financi (NYSE:GNW)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Genworth Financi (NYSE:GNW) based on the price action in the company's shares. Today's price range of $3.86 and $3.89 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 Genworth Financi may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Based on a current price of $3.86, Genworth Financi is currently 1.3% above its average consensus analyst price target of $3.81. The stock should find initial resistance at its 50-day moving average (MA) of $3.86 and further resistance at its 200-day MA of $4.32.

Genworth Financial, Inc. offers insurance, wealth management, investment, and financial solutions. The Company offers products that include life insurance products, long-term care insurance, and mortgage guarantee insurance coverage on residential mortgage loans. Genworth is active in the United States, Canada, Australia, New Zealand, Mexico, and multiple European countries.

In the past 52 weeks, shares of Genworth Financi have traded between a low of $3.02 and a high of $5.02 and are now at $3.86, which is 28% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.9%.

SmarTrend is tracking the current trend status for Genworth Financi and will alert subscribers who have GNW in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle genworth financi

Ticker(s): GNW