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

By James Quinn

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 $67.87 and $68.26 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 (NYSE:WRB) has potential upside of 8.2% based on a current price of $68.24 and analysts' consensus price target of $73.86. Wr Berkley Corp shares should first meet resistance at the 50-day moving average (MA) of $70.54 and find additional resistance at the 200-day MA of $78.87.

W. R. Berkley Corporation operates as an insurance agency. The Company offers property casualty insurance and reinsurance products. W. R. Berkley serves customers globally.

In the past 52 weeks, Wr Berkley Corp share prices have been bracketed by a low of $55.57 and a high of $127.73 and closed yesterday at $68.24, 23% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 0.3%.

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