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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 $24.96 and $25.44 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.

In the past 52 weeks, Triple-S Mgmt-B share prices have been bracketed by a low of $15.05 and a high of $29.43 and closed yesterday at $25.18, 67% above that low price. The 200-day and 50-day moving averages have moved 0.33% higher and 0.13% lower over the past week, respectively.

Triple-S Mgmt-B (NYSE:GTS) is currently priced 0.7% above its average consensus analyst price target of $25.00. Triple-S Mgmt-B shares should encounter resistance at the 50-day moving average (MA) of $25.64 and support at its 200-day MA of $23.14.

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.

SmarTrend is tracking the current trend status for Triple-S Mgmt-B and will alert subscribers who have GTS in their portfolio or watchlist when shares have changed trend direction.

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

Ticker(s): GTS