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Possible Bearish Inside Day Candle Pattern Detected for Metlife Inc (NYSE:MET)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Metlife Inc (NYSE:MET) based on the price action in the company's shares. Yesterday's price range of $30.63 and $32.17 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 Metlife Inc may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

MetLife, Inc. provides individual insurance, employee benefits, and financial services with operations throughout the United States and the regions of Latin America, Europe, and Asia Pacific. The Company's products include life insurance, annuities, automobile and homeowners insurance, retail banking, and other financial services to individuals, as well as group insurance.

Metlife Inc (NYSE:MET) has potential upside of 78.8% based on a current price of $30.87 and analysts' consensus price target of $55.19. The stock should find initial resistance at its 50-day moving average (MA) of $43.39 and further resistance at its 200-day MA of $47.08.

Metlife Inc share prices have moved between a 52-week high of $53.28 and a 52-week low of $22.85 and closed yesterday at 35% above that low price at $30.87 per share. The 200-day and 50-day moving averages have moved 1.03% lower and 5.12% lower over the past week, respectively.

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

Keywords: bearish am inside day candle metlife inc

Ticker(s): MET