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Possible Bullish Inside Day Candle Pattern Detected for Cna Finl Corp (NYSE:CNA)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cna Finl Corp (NYSE:CNA) based on the price action in the company's shares. Yesterday's price range of $43.51 and $44.10 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 Cna Finl Corp 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 Cna Finl Corp have traded between a low of $41.92 and a high of $55.39 and closed yesterday at $44.22, which is 5% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.3%.

Cna Finl Corp has overhead space with shares priced $44.22, or 20.1% below the average consensus analyst price target of $55.33. Cna Finl Corp shares should first meet resistance at the 50-day moving average (MA) of $45.36 and find additional resistance at the 200-day MA of $47.20.

CNA Financial Corporation operates as an insurance holding company. The Company, through its subsidiaries, provides commercial property and casualty coverages such as risk management, information services, warranty, and claims administration.

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

Keywords: bullish am inside day candle cna finl corp

Ticker(s): CNA