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

By Nick Russo

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 $26.66 and $26.66 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.

There is potential upside of 4.5% for shares of Triple-S Mgmt-B based on a current price of $26.80 and an average consensus analyst price target of $28.00. The stock should discover initial support at its 200-day moving average (MA) of $24.10 and subsequent support at its 50-day MA of $21.19.

Over the past year, Triple-S Mgmt-B has traded in a range of $15.45 to $44.01 and closed yesterday at $26.80, 73% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.5% while the 200-day MA has slid 0.7%.

SmarTrend recommended that subscribers consider buying shares of Triple-S Mgmt-B on January 22nd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $19.67. Since that recommendation, shares of Triple-S Mgmt-B have risen 38.7%. We continue to monitor GTS for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

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

Ticker(s): GTS