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Possible Bullish Inside Day Candle Pattern Detected for Wr Berkley Corp (NYSE:WRB)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wr Berkley Corp (NYSE:WRB) based on the price action in the company's shares. Yesterday's price range of $67.99 and $68.64 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 Wr Berkley Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

W. R. Berkley Corporation operates as an insurance agency. The Company offers property casualty insurance and reinsurance products. W. R. Berkley serves customers globally.

In the past 52 weeks, Wr Berkley Corp share prices have been bracketed by a low of $54.70 and a high of $73.17 and closed yesterday at $68.61, 25% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.5%.

Based on a current price of $68.61, Wr Berkley Corp is currently 1.3% above its average consensus analyst price target of $67.75. The stock should discover initial support at its 50-day moving average (MA) of $54.80 and subsequent support at its 200-day MA of $54.25.

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

Keywords: bullish am inside day candle wr berkley corp

Ticker(s): WRB