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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Genworth Financi (NYSE:GNW) based on the price action in the company's shares. Yesterday's price range of $3.17 and $3.24 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 Genworth Financi may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Genworth Financi share prices have moved between a 52-week high of $4.93 and a 52-week low of $2.87 and closed yesterday at 14% above that low price at $3.28 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has declined 0.8%.

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.

Potential upside of 16.2% exists for Genworth Financi, based on a current level of $3.28 and analysts' average consensus price target of $3.81. The stock should find initial resistance at its 50-day moving average (MA) of $3.89 and further resistance at its 200-day MA of $4.12.

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

Keywords: bullish am inside day candle genworth financi

Ticker(s): GNW