TRV runs into sellers around 138.32 for the third day in a row


The Travelers Companies Inc. (TRV) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
TRV runs into sellers around 138.32 for the third day in a row
TRV pushes through 100-day moving average
TRV finds support at 100-day moving average
TRV still stuck within tight trading range
TRV closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 30% Bullish
Technical Forecast:
Overview

TRV finished Monday at 137.55 gaining $1.26 (0.92%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for TRV
Volatility

Monday's trading range was $2.02 (1.47%), that's below last trading month's daily average range of $2.62. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 135.60 and 139.26 which it has been in now for the last trading week.

Price Action

During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.

Support/Resistance

Prices are trading close to a key support level at 136.05. The share ran into sellers again today around 138.32 for the third trading day in a row after having found sellers at 138.61 in the previous session and at 138.33 two days ago. After trading as low as 136.30 during the day, the stock found support at the 100-day moving average at 137.19.

Trend

The market shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. Travelers managed to break above the 100-day moving average at 137.19 today for the first time since April 12th.

Order Flow

Buying might speed up should prices move above the close-by swing high at 138.61 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 135.60 where further sell stops could get triggered. As prices are trading close to April's high at 140.03, upside momentum might speed up should TRV mark new highs for the month.

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.
ConditionForecastDirectionWinAvgWorstBestEvents
White Candle TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
Close above the upper Bollinger Band TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

TRV pushes through prior session high

Jul 18, 2018
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