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Possible Bearish Inside Day Candle Pattern Detected for Radian Group Inc (NYSE:RDN)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Radian Group Inc (NYSE:RDN) based on the price action in the company's shares. Yesterday's price range of $25.21 and $25.37 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 Radian Group Inc 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 Radian Group Inc have traded between a low of $14.78 and a high of $25.84 and closed yesterday at $25.36, which is 72% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.5% while the 50-day MA has advanced 0.8%.

Radian Group Inc (NYSE:RDN) is currently priced 10.3% above its average consensus analyst price target of $22.75. Radian Group Inc shares have support at the 50-day moving average (MA) of $23.74 and additional support at the 200-day MA of $22.49.

Radian Group Inc. provides financial guarantee insurance. The Company's products and services enable homebuyers to purchase homes more quickly and with smaller down payments, protect lenders against loan default, and lower the costs of mortgage origination and servicing. Radian also provides insurance and reinsurance to investors in corporate, municipal, and asset-backed securities.

SmarTrend recommended that subscribers consider buying shares of Radian Group Inc on September 11th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.58. Since that recommendation, shares of Radian Group Inc have risen 8.3%. We continue to monitor RDN for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle radian group inc

Ticker(s): RDN