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Possible Bearish Inside Day Candle Pattern Detected for Triple-S Mgmt-B (NYSE:GTS)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Triple-S Mgmt-B (NYSE:GTS) based on the price action in the company's shares. Yesterday's price range of $16.43 and $16.92 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 Triple-S Mgmt-B may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 67.3% for shares of Triple-S Mgmt-B based on a current price of $16.74 and an average consensus analyst price target of $28.00. The stock should hit resistance at its 200-day moving average (MA) of $17.74, as well as support at its 50-day MA of $14.64.

In the past 52 weeks, Triple-S Mgmt-B share prices have been bracketed by a low of $9.13 and a high of $27.87 and closed yesterday at $16.74, 83% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has slid 1.1%.

Triple-S Management Corporation is an independent licensee of the Blue Cross Blue Shield Association. The Company operates a network of participants and providers in Puerto Rico.

SmarTrend is tracking the current trend status for Triple-S Mgmt-B and will alert subscribers who have GTS in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle triple-s mgmt-b

Ticker(s): GTS