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Possible Bearish Inside Day Candle Pattern Detected for Assurant Inc (NYSE:AIZ)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Assurant Inc (NYSE:AIZ) based on the price action in the company's shares. Yesterday's price range of $141.66 and $141.94 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. Owners of Assurant Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Assurant Inc share prices have been bracketed by a low of $91.84 and a high of $142.56 and closed yesterday at $141.94, 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.4%.

Assurant Inc (NYSE:AIZ) is currently priced 24.3% above its average consensus analyst price target of $107.50. The stock should find initial support at its 50-day moving average (MA) of $132.41 and further support at its 200-day MA of $120.78.

Assurant, Inc. is a global provider of risk management solutions. The Company offers protections for mobile devices and vehicles. Assurant Inc. also offers pre-funded funeral insurance, renters insurance, lender-placed homeowners insurance, mortgage valuation and field services.

SmarTrend is tracking the current trend status for Assurant Inc and will alert subscribers who have AIZ in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle assurant inc

Ticker(s): AIZ