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Possible Bullish Inside Day Candle Pattern Detected for Wr Berkley Corp (NYSE:WRB)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Wr Berkley Corp (NYSE:WRB) based on the price action in the company's shares. Yesterday's price range of $70.82 and $71.45 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 Wr Berkley Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Wr Berkley Corp share prices have moved between a 52-week high of $127.73 and a 52-week low of $55.57 and closed yesterday at 28% above that low price at $71.18 per share. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

W. R. Berkley Corporation, an insurance holding company, operates as a commercial lines writer in the United States and internationally. It operates through two segments, Insurance and Reinsurance.

There is potential upside of 3.8% for shares of Wr Berkley Corp based on a current price of $71.18 and an average consensus analyst price target of $73.86. The stock should find initial resistance at its 50-day moving average (MA) of $71.41 and further resistance at its 200-day MA of $83.98.

SmarTrend is tracking the current trend status for Wr Berkley Corp and will alert subscribers who have WRB in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle wr berkley corp

Ticker(s): WRB