• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Genworth Financi (NYSE:GNW)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Genworth Financi (NYSE:GNW) based on the price action in the company's shares. Today's price range of $3.94 and $3.95 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. Owners of Genworth Financi may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Genworth Financial, Inc. offers insurance, wealth management, investment, and financial solutions. The Company offers products that include life insurance products, long-term care insurance, and mortgage guarantee insurance coverage on residential mortgage loans. Genworth is active in the United States, Canada, Australia, New Zealand, Mexico, and multiple European countries.

Genworth Financi share prices have moved between a 52-week high of $5.02 and a 52-week low of $2.89 and are now trading 36% above that low price at $3.94 per share. The 200-day and 50-day moving averages have moved 0.18% lower and 0.16% higher over the past week, respectively.

Genworth Financi (NYSE:GNW) is currently priced 3.3% above its average consensus analyst price target of $3.81. The stock should hit resistance at its 200-day moving average (MA) of $4.07, as well as support at its 50-day MA of $3.46.

SmarTrend recommended that subscribers consider buying shares of Genworth Financi on June 21st, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $3.50. Since that recommendation, shares of Genworth Financi have risen 13.3%. We continue to monitor GNW for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish inside day candle genworth financi

Ticker(s): GNW