The Travelers Companies Inc. - TRV
Monthly chart shows a double top at the $57.00 high. The bulls have not been able to make a new high in the last 9 months. However, price currently remains above the 8ema (albeit slightly) and the 34ema.
Weekly chart shows an abc 3 wave pattern into the .886 fib, creating a lower high. Last week's price action indicates profit-taking upon re-test of the highs.
Daily chart shows a kicker type signal candle pattern made by Friday's price action. In their haste to get out of the stock, the bears gapped down the stock at the open -- below the prior day's low, and traded it lower, to close on its lows for the trading session. This indicates a major shift in investor sentiment. Look for this to continue lower next week.
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