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Possible Bullish Inside Day Candle Pattern Detected for Old Republic International (NYSE:ORI)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Old Republic International (NYSE:ORI) based on the price action in the company's shares. Today's price range of $18.14 and $18.30 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 Old Republic International may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Old Republic International share prices have moved between a 52-week high of $19.36 and a 52-week low of $14.84 and are now trading 23% above that low price at $18.27 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.3%.

Old Republic International Corporation is an insurance holding company whose subsidiaries market, underwrite, and provide risk management services. The Company provides services for a variety of coverages in the property and liability, mortgage guaranty, title, and life and health insurance fields.

Old Republic International (NYSE:ORI) has potential upside of 9.5% based on a current price of $18.27 and analysts' consensus price target of $20.00. The stock should find initial support at its 50-day moving average (MA) of $18.20 and further support at its 200-day MA of $17.56.

SmarTrend is tracking the current trend status for Old Republic International and will alert subscribers who have ORI in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish inside day candle old republic international

Ticker(s): ORI