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Possible Bearish Inside Day Candle Pattern Detected for Metlife Inc (NYSE:MET)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Metlife Inc (NYSE:MET) based on the price action in the company's shares. Today's price range of $44.83 and $44.83 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 Metlife Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

MetLife, Inc. provides individual insurance, employee benefits, and financial services with operations throughout the United States and the regions of Latin America, Europe, and Asia Pacific. The Company's products include life insurance, annuities, automobile and homeowners insurance, retail banking, and other financial services to individuals, as well as group insurance.

Over the past year, Metlife Inc has traded in a range of $37.76 to $48.92 and is now at $44.83, 19% above that low. The 200-day and 50-day moving averages have moved 0.03% lower and 0.12% higher over the past week, respectively.

Potential upside of 23.1% exists for Metlife Inc, based on a current level of $44.83 and analysts' average consensus price target of $55.19. The stock should find initial support at its 200-day moving average (MA) of $44.74 and further support at its 50-day MA of $42.66.

SmarTrend recommended that subscribers consider buying shares of Metlife Inc on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $42.10. Since that recommendation, shares of Metlife Inc have risen 6.3%. We continue to monitor MET for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle metlife inc

Ticker(s): MET