TRV unable to break through key resistance level


The Travelers Companies Inc. (TRV) Technical Analysis Report for Aug 10, 2018 [1 min read]
Highlights
TRV closes above its opening price after recovering from early selling pressure
TRV finds buyers at key support level
TRV unable to break through key resistance level
TRV finds support at 20-day moving average
TRV falls to lowest close since August 2nd
TQ Sentiment
Report Sentiment: 33% Bullish
Technical Forecast:
Overview

TRV finished the week -0.64% lower at 128.87 after losing $0.69 (-0.53%) today on low volume. Today's closing price of 128.87 marks the lowest close since August 2nd. Trading up to $1.12 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TRV
Volatility

Friday's trading range was $1.55 (1.2%), that's slightly below last trading month's daily average range of $1.82. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 127.61 during the day, the market bounced off the key support level at 127.71. The failure to close below the support might increase that levels importance as support going forward. Unable to break through the key technical resistance level at 129.10, the stock closed below it after spiking as high as 129.16 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After trading as low as 127.61 during the day, Travelers found support at the 20-day moving average at 128.43.

Trend

TRV shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 130.12 where further buy stops could get activated. Selling might speed up should prices move below the close-by swing low at 127.00 where further sell stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for The Travelers Companies Inc.
Condition Forecast Direction Win Avg Worst Best Events
Bullish Engulfing Candle TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
White Candle TQ Pro Members Only
Low close to previous low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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