The Travelers Companies Inc. Tests Support
25 January 2012 19:31:04 WIB
Correction occurs on the stock chart of The Travelers Companies Inc. (TRAVEL). The price is testing the support at 57.89 as oversold condition shown by hourly stochastic and CCI. We are expecting whether there will be bullish signals from both of the indicators before the support at 57.89 breaks. That scenario probably will be followed by bullish move up to the resistance at 59.86. Furthermore, acceleration above that resistance will capitalize the bullish bias and the price might to run to the level of 61.62.
Stay alert for correction to the support at 55.92 will be possible if the price drops and breaks the support at 57.89. The bias will really turn to bearish if the support at 55.92 breaks so the price will probably move to 54.16.
