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

By Shiri Gupta

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 $151.71 and $152.85 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 Grou (NYSE:RGA) has potential upside of 6.2% based on a current price of $151.92 and analysts' consensus price target of $161.38. The stock should find resistance at its 50-day moving average (MA) of $153.55, as well as support at its 200-day MA of $149.46.

In the past 52 weeks, Reinsurance Grou share prices have been bracketed by a low of $127.84 and a high of $163.46 and closed yesterday at $151.92, 19% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.2% while the 200-day MA has risen 0.2%.

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.

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