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Possible Bearish Inside Day Candle Pattern Detected for Validus Holdings (NYSE:VR)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Validus Holdings (NYSE:VR) based on the price action in the company's shares. Yesterday's price range of $67.50 and $67.68 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 Validus Holdings may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Validus Holdings, Ltd. operates as an insurance company. The Company concentrates on underwriting short-tail insurance and reinsurance business. Validus Holdings serves clients globally.

Validus Holdings (NYSE:VR) defies analysts with a current price ($67.53) 18.0% above its average consensus price target of $55.38. The stock should discover initial support at its 50-day moving average (MA) of $46.09 and subsequent support at its 200-day MA of $45.34.

Validus Holdings share prices have moved between a 52-week high of $67.73 and a 52-week low of $41.15 and closed yesterday at 64% above that low price at $67.53 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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

Keywords: bearish am inside day candle Validus Holdings

Ticker(s): VR