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Possible Bearish Inside Day Candle Pattern Detected for Primerica Inc (NYSE:PRI)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Primerica Inc (NYSE:PRI) based on the price action in the company's shares. Yesterday's price range of $102.21 and $103.97 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 Primerica Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Primerica Inc. distributes financial products to middle income households in North America. The Company products includes term life insurance, mutual funds, variable annuities, and other financial products, which are distribute primarily on behalf of third parties.

Primerica Inc (NYSE:PRI) has potential upside of 0.2% based on a current price of $104.04 and analysts' consensus price target of $104.25. Primerica Inc shares should first meet resistance at the 50-day moving average (MA) of $107.81 and find additional resistance at the 200-day MA of $107.84.

In the past 52 weeks, Primerica Inc share prices have been bracketed by a low of $90.05 and a high of $128.35 and closed yesterday at $104.04, 16% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.6%.

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

Keywords: bearish am inside day candle primerica inc

Ticker(s): PRI