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Possible Bullish Inside Day Candle Pattern Detected for Reinsurance Grou (NYSE:RGA)

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Reinsurance Grou (NYSE:RGA) based on the price action in the company's shares. Yesterday's price range of $143.18 and $144.80 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 Reinsurance Grou may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Reinsurance Group of America, Incorporated provides reinsurance services. The Company offers life and health related reinsurance products and financial solutions. Reinsurance Group of America serves customers globally.

Potential upside of 11.4% exists for Reinsurance Grou, based on a current level of $144.92 and analysts' average consensus price target of $161.38. Reinsurance Grou shares have support at the 50-day moving average (MA) of $144.62 and additional support at the 200-day MA of $142.40.

In the past 52 weeks, shares of Reinsurance Grou have traded between a low of $127.84 and a high of $163.00 and closed yesterday at $144.92, which is 13% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

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

Keywords: bullish am inside day candle reinsurance grou

Ticker(s): RGA