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

By James Quinn

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 $150.05 and $151.75 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 $162.44 and a 52-week low of $119.54 and closed yesterday at 26% above that low price at $151.13 per share. The 200-day and 50-day moving averages have moved 0.34% higher and 0.5% lower over the past week, respectively.

Chubb Ltd has overhead space with shares priced $151.13, or 5.6% below the average consensus analyst price target of $160.13. The stock should hit resistance at its 50-day moving average (MA) of $154.35, as well as support at its 200-day MA of $147.72.

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