• Return to Headlines

Possible Bullish Inside Day Candle Pattern Detected for Travelers Cos In (NYSE:TRV)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Travelers Cos In (NYSE:TRV) based on the price action in the company's shares. Yesterday's price range of $131.10 and $132.16 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 Travelers Cos In may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 11.8% exists for Travelers Cos In, based on a current level of $128.07 and analysts' average consensus price target of $143.12. The stock should run into initial resistance at its 50-day moving average (MA) of $135.85 and subsequent resistance at its 200-day MA of $142.17.

Travelers Cos In share prices have moved between a 52-week high of $155.09 and a 52-week low of $128.29 and closed yesterday at -0% above that low price at $128.07 per share. The 200-day and 50-day moving averages have moved 0.12% lower and 0.18% lower over the past week, respectively.

The Travelers Companies, Inc. provides commercial and personal property and casualty insurance products and services to businesses, government units, associations, and individuals.

SmarTrend is tracking the current trend status for Travelers Cos In and will alert subscribers who have TRV in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle travelers cos in

Ticker(s): TRV