• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Old Repub Intl (NYSE:ORI)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Old Repub Intl (NYSE:ORI) based on the price action in the company's shares. Yesterday's price range of $22.47 and $22.58 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 Old Repub Intl may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Old Repub Intl share prices have moved between a 52-week high of $23.05 and a 52-week low of $19.55 and closed yesterday at 15% above that low price at $22.52 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

Old Repub Intl (NYSE:ORI) has potential upside of 6.6% based on a current price of $22.52 and analysts' consensus price target of $24.00. Old Repub Intl shares have support at the 50-day moving average (MA) of $21.77 and additional support at the 200-day MA of $21.47.

Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite, and provide risk management services. The Company provides services for a variety of coverages in the property and liability, mortgage guaranty, title, and life and health insurance fields.

SmarTrend is tracking the current trend status for Old Repub Intl and will alert subscribers who have ORI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle old repub intl

Ticker(s): ORI