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

By David Diaz

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. Yesterday's price range of $4.26 and $4.36 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 Genworth Financi may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

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.

Genworth Financi (NYSE:GNW) is currently priced 11.2% above its average consensus analyst price target of $3.81. Genworth Financi shares should encounter resistance at the 50-day moving average (MA) of $4.37 and support at its 200-day MA of $4.02.

Over the past year, Genworth Financi has traded in a range of $2.89 to $5.02 and closed yesterday at $4.29, 48% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

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 am inside day candle genworth financi

Ticker(s): GNW