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

By David Diaz

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 $154.80 and $155.96 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) defies analysts with a current price ($155.15) 3.2% above its average consensus price target of $150.14. The stock should discover initial support at its 50-day moving average (MA) of $94.94 and subsequent support at its 200-day MA of $91.11.

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.

Reinsurance Grou share prices have moved between a 52-week high of $165.12 and a 52-week low of $90.26 and closed yesterday at 72% above that low price at $155.15 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Reinsurance Grou on September 18th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $135.40. Since that recommendation, shares of Reinsurance Grou have risen 14.1%. We continue to monitor RGA for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle reinsurance grou

Ticker(s): RGA