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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Travelers (NYSE:TRV) based on the price action in the company's shares. Today's price range of $114.50 and $114.91 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 Travelers may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Travelers Companies, Inc. provides commercial property casualty insurance and asset management services to businesses, government units, associations and individuals. The Company underwrites homeowners and auto insurance through independent agents.

Travelers share prices have moved between a 52-week high of $118.28 and a 52-week low of $95.21 and are now trading 20% above that low price at $114.57 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Based on a current price of $114.57, Travelers is currently 2.1% above its average consensus analyst price target of $112.18. Travelers shares have support at the 50-day moving average (MA) of $113.19 and additional support at the 200-day MA of $108.64.

SmarTrend is monitoring the recent change of momentum in Travelers. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Travelers in search of a potential trend change.

Keywords: bullish inside day candle Travelers

Ticker(s): TRV