Is Travelers Going Places?
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 support yesterday. The 50-day simple moving average (SMA) is almost in exactly the same place.
Next, consider the recent relative strength in the Dow Jones Industrial Average. It’s up nearly 4 percent in the last month, quadruple the gain of the S&P 500. TRV is the smallest member of the Dow, weighing in a just $37 billion. (That’s less than two-thirds of the Nasdaq-100.)
Its parent bucket, financials, is also the second-best performing sector this year. (Energy is No. 1.)
Finally, TRV falls under the “value” umbrella thanks to its trailing P/E ratio of just 14x.
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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 support yesterday. The 50-day simple moving average (SMA) is almost in exactly the same place.
Next, consider the recent relative strength in the Dow Jones Industrial Average. It’s up nearly 4 percent in the last month, quadruple the gain of the S&P 500. TRV is the smallest member of the Dow, weighing in a just $37 billion. (That’s less than two-thirds of the Nasdaq-100.)
Its parent bucket, financials, is also the second-best performing sector this year. (Energy is No. 1.)
Finally, TRV falls under the “value” umbrella thanks to its trailing P/E ratio of just 14x.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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