The Travelers stock could once again honor its name and undertake a volatile journey. We now locate the stock in the magenta wave (y), which should undercut the support at $157.33 and then bring the superior wave (4) in green to its end. It should be noted that it is also 39% likely that the stock has already established the low of the larger correction with wave...
📈 What is a Falling Wedge? The Falling Wedge is a bullish chart pattern characterized by two converging trendlines, with the lower trendline sloping upward more than the upper trendline. It typically signals a potential bullish reversal, with the price likely to break upward after the wedge pattern.
📈 How to Identify:
Draw a trendline connecting at least two...
I had an alert set for Travelers NYSE:TRV that hit this morning. It is the 50% Retracement Support on the Daily for the last 2 quarters of price action. This sets up a good long to retest the high should the level hold.
The PEAD projected a Bullish outlook for $TRV after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 62.5%.
While many are still looking for lower market lows, It's important to see that some sectors of the market are on fire! All the talk is on Energy stocks but insurance companies have been on a tear. Higher interest rates will certainly benefit these shares.
The PEAD projected a Bearish outlook for $TRV after a Negative under reaction following its earnings release placing the stock in drift C with an expected accuracy of 80%.
The PEAD projected a Bearish outlook for $TRV after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 77.78%.
Watching how price acts after breaking this bullflag
There are two area of supports I am watching. Price will either breakout and attempt a new high after taking Friday's highs, or we can go back to the second support area where it would offer a better R:R
Rectangles can extend for a few weeks or many months, and provide great trade opportunities every time the stock touches the top or bottom of the rectangle, until it finally breaks to the upside or downside.
TRV has been trading in a range (146.75 / 162.77) since February, forming a rectangle pattern. Generally, the longer the pattern, the more significant...
Today, we will look at a beautiful chart from a technical perspective and all the relevant levels that we should pay attention to.
Key Elements on the chart:
a) The dynamic Resistance level working since 2018. That's our Major level in terms of defining the turning point for bullish movements. Once we have clarity about "major levels," we may see two types...
TRV is looking bullish
consolidating under 160-162 area forming an accending triangle
long at breakout to resistance area at 175-180
support at 152-164
Travelers doesn’t get much attention, but maybe it should.
The insurance stock trended steadily upward since October. It made a new all-time high above $160 last week when Chubb bid for Hartford. TRV quickly pulled back, creating a potential opportunity for buyers.
Notice the trend line running along the lows of late October and early February. Price held that...
