• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Travelers Cos In (NYSE:TRV)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Travelers Cos In (NYSE:TRV) based on the price action in the company's shares. Yesterday's price range of $136.98 and $137.69 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 Travelers Cos In may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

The Travelers Companies, Inc. provides commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals.

In the past 52 weeks, shares of Travelers Cos In have traded between a low of $124.36 and a high of $155.09 and closed yesterday at $135.88, which is 9% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Travelers Cos In has overhead space with shares priced $135.88, or 5.1% below the average consensus analyst price target of $143.12. The stock should find initial resistance at its 50-day moving average (MA) of $136.13 and further resistance at its 200-day MA of $142.47.

SmarTrend is tracking the current trend status for Travelers Cos In and will alert subscribers who have TRV in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle travelers cos in

Ticker(s): TRV