Short term view - TRAVELERS COMPANIES INC : The moving average is capping prices.
The trend has been momentarily interrupted by a correction. It approaches the resistance at $132.20, which also is the invalidation level. It should cause a fall and resume the bearish trend. The next target is at $122.30. The invalidation level is below $140.00.Arguments :
- The support has been shortly breached, but it is now reinstated. Prices can bounce.
- The resistance has been reached, it causes the fall.
- The moving average is capping prices.
Travelers Companies is a holding company. Through its subsidiaries, the company is engaged in providing commercial and personal property and casualty insurance products and services to businesses, government units, associations and individuals. The company's segments include: Business Insurance, which provides property and casualty insurance and insurance-related services; Bond and Specialty Insurance, which provides surety, fidelity, management liability, professional liability, and other property and casualty coverages and related risk management services, and certain specialty insurance products; and Personal Insurance, which writes property and casualty insurance covering individuals' personal risks.
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