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Possible Bullish Inside Day Candle Pattern Detected for Chubb Ltd (NYSE:CB)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Chubb Ltd (NYSE:CB) based on the price action in the company's shares. Yesterday's price range of $106.69 and $108.14 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 Chubb Ltd may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Chubb Limited operates as a property and casualty insurance company. The Company provides commercial and personal property, casualty, and personal accident and supplemental health insurance, reinsurance, and life insurance to a diverse group of clients.

Chubb Ltd share prices have moved between a 52-week high of $167.74 and a 52-week low of $87.35 and closed yesterday at 19% above that low price at $104.08 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has declined 3.3%.

Chubb Ltd has overhead space with shares priced $104.08, or 35.0% below the average consensus analyst price target of $160.13. The stock should run into initial resistance at its 50-day moving average (MA) of $127.11 and subsequent resistance at its 200-day MA of $147.47.

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

Keywords: bullish am inside day candle chubb ltd

Ticker(s): CB