Bulls May Need to Take a Short Time-Out on Travelers

Travelers Cos. Inc. (TRV) has performed nicely since November, but a period of sideways price action might be in order for the next two or three months. A sideways or neutral market does not necessarily mean a top, but rather a pause in an ongoing bull market.

Let's review our charts and indicators to suggest an actionable strategy. In our last update we were bullish and anticipated that "we might see some short-term selling, but the major trend is up. Traders looking to get long TRV should buy strength. Buy a close above $124 and add on a close above $126. Risk a close below $119 after buying. The $160 area is our price target for this bull run."...296 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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