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Possible Bearish Inside Day Candle Pattern Detected for Navigators Group (NASDAQ:NAVG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Navigators Group (NASDAQ:NAVG) based on the price action in the company's shares. Yesterday's price range of $52.75 and $58.55 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 Navigators Group may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of Navigators Group have traded between a low of $21.66 and a high of $60.35 and closed yesterday at $54.15, which is 150% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

The Navigators Group, Inc. is an international commercial property & casualty specialty insurance holding company with insurance company operations, and underwriting management companies. The Company has offices in communities across the United States, the United Kingdom, and Continental Europe.

Navigators Group (NASDAQ:NAVG) defies analysts with a current price ($54.15) 1.5% above its average consensus price target of $53.33. Navigators Group shares should first meet resistance at the 200-day moving average (MA) of $82.29 and find additional resistance at the 50-day MA of $82.75.

SmarTrend is monitoring the recent change of momentum in Navigators Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Navigators Group in search of a potential trend change.

Keywords: bearish am inside day candle navigators group

Ticker(s): NAVG