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

By Nick Russo

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 $148.48 and $149.33 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.

Travelers Cos In (NYSE:TRV) defies analysts with a current price ($149.00) 3.9% above its average consensus price target of $143.12. The stock should discover initial support at its 50-day moving average (MA) of $141.81 and subsequent support at its 200-day MA of $130.83.

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

Travelers Cos In share prices have moved between a 52-week high of $149.86 and a 52-week low of $111.08 and closed yesterday at 34% above that low price at $149.00 per share. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.8%.

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 24.5%. We continue to monitor TRV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle travelers cos in

Ticker(s): TRV