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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. Today's price range of $152.07 and $152.17 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.

Based on a current price of $152.17, Travelers Cos In is currently 5.9% above its average consensus analyst price target of $143.12. The stock should find initial support at its 50-day moving average (MA) of $144.52 and further support at its 200-day MA of $131.77.

In the past 52 weeks, shares of Travelers Cos In have traded between a low of $111.08 and a high of $152.50 and are now at $152.17, which is 37% above that low price. The 200-day and 50-day moving averages have moved 0.29% higher and 0.84% higher over the past week, respectively.

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 26.4%. 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