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Possible Bearish Inside Day Candle Pattern Detected for Triple-S Mgmt-B (NYSE:GTS)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Triple-S Mgmt-B (NYSE:GTS) based on the price action in the company's shares. Yesterday's price range of $20.13 and $21.98 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 Triple-S Mgmt-B may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Triple-S Management Corporation is an independent licensee of the Blue Cross Blue Shield Association. The Company operates a network of participants and providers in Puerto Rico.

In the past 52 weeks, shares of Triple-S Mgmt-B have traded between a low of $16.57 and a high of $44.01 and closed yesterday at $20.89, which is 26% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 1.2%.

There is potential upside of 34.0% for shares of Triple-S Mgmt-B based on a current price of $20.89 and an average consensus analyst price target of $28.00. The stock should hit resistance at its 200-day moving average (MA) of $27.59, as well as support at its 50-day MA of $19.36.

SmarTrend is monitoring the recent change of momentum in Triple-S Mgmt-B. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Triple-S Mgmt-B in search of a potential trend change.

Keywords: bearish am inside day candle triple-s mgmt-b

Ticker(s): GTS