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

By Shiri Gupta

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 $51.55 and $51.92 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.

There is potential upside of 6.8% for shares of Metlife Inc based on a current price of $51.65 and an average consensus analyst price target of $55.19. Metlife Inc shares have support at the 50-day moving average (MA) of $50.74 and additional support at the 200-day MA of $48.30.

Over the past year, Metlife Inc has traded in a range of $41.41 to $52.76 and is now at $51.65, 25% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.2% while the 200-day MA has risen 0.2%.

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.

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

Keywords: bearish inside day candle metlife inc

Ticker(s): MET