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Possible Bullish Inside Day Candle Pattern Detected for Genworth Financial (NYSE:GNW)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Genworth Financial (NYSE:GNW) based on the price action in the company's shares. Today's price range of $2.61 and $2.74 is within yesterday'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 Genworth Financial may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Genworth Financial has traded in a range of $1.57 to $9.19 and is now at $2.63, 68% above that low. The 200-day and 50-day moving averages have moved 1.83% lower and 6.08% higher over the past week, respectively.

Genworth Financial Inc. offers insurance, wealth management, investment and financial solutions The Company offers products that include life insurance products, long-term care insurance, and mortgage guarantee insurance coverage on residential mortgage loans. Genworth is active in the United States, Canada, Australia, New Zealand, Mexico and multiple European countries.

Genworth Financial has overhead space with shares priced $2.63, or 59.3% below the average consensus analyst price target of $6.47. The stock should find initial resistance at its 50-day moving average (MA) of $2.84 and further resistance at its 200-day MA of $3.98.

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

Keywords: bullish inside day candle genworth financial

Ticker(s): GNW