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

By Shiri Gupta

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. Today's price range of $135.01 and $135.01 is within yesterday'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.

Over the past year, Travelers Cos In has traded in a range of $111.08 to $140.03 and is now at $135.01, 22% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has remained constant.

Travelers Cos In (NYSE:TRV) has potential upside of 6.0% based on a current price of $135.01 and analysts' consensus price target of $143.12. Travelers Cos In shares have support at the 50-day moving average (MA) of $128.65 and additional support at the 200-day MA of $127.12.

SmarTrend recommended that subscribers consider buying shares of Travelers Cos In on January 14th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $120.38. Since that recommendation, shares of Travelers Cos In have risen 12.1%. We continue to monitor TRV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle travelers cos in

Ticker(s): TRV