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

By James Quinn

SmarTrend's candlestick scanner has spotted a possible bullish 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 $15.22 and $15.57 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 Triple-S Mgmt-B may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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 $15.34, 68% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has remained constant.

Triple-S Mgmt-B has overhead space with shares priced $15.34, or 45.2% below the average consensus analyst price target of $28.00. Triple-S Mgmt-B shares should encounter resistance at the 200-day moving average (MA) of $17.51 and support at the 50-day MA of $14.65.

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: bullish am inside day candle triple-s mgmt-b

Ticker(s): GTS