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Possible Bullish Inside Day Candle Pattern Detected for Cincinnati Fin (NASDAQ:CINF)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cincinnati Fin (NASDAQ:CINF) based on the price action in the company's shares. Yesterday's price range of $113.03 and $113.03 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. Traders and investors interested in shares of Cincinnati Fin may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Cincinnati Fin have traded between a low of $83.00 and a high of $118.50 and closed yesterday at $112.12, which is 35% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

Based on a current price of $112.12, Cincinnati Fin is currently 32.0% above its average consensus analyst price target of $76.20. Cincinnati Fin shares have support at the 200-day moving average (MA) of $107.60 and additional support at the 50-day MA of $106.95.

Cincinnati Financial Corporation, through its subsidiaries, offers property and casualty and life insurance. The Company markets a variety of insurance products and provides leasing and financing services.

SmarTrend is tracking the current trend status for Cincinnati Fin and will alert subscribers who have CINF in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle cincinnati fin

Ticker(s): CINF