Thursday, April 26, 2018 11:10:05 AM
Travelers Companies Inc (NYSE:TRV) is a leading insurance holding company that covers property and casualty insurance to businesses, government units and individuals. Last week, TRV stock dropped sharply after reporting earnings. Today, the stock is trading down 0.18 to $128.14 a share. Currently, the stock is hovering just below its important 200-day moving average. This pattern formation is indicating further downside in the near term for the stock price. Traders should now watch the $128.00 area as the next major support level for the insurance giant. This support area is where the stock broke out in October 2017. Remember, often prior breakout levels will be major support when retested.
Nicholas Santiago
InTheMoneyStocks
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