Buyers Stepping In - Travelers

Published on Friday, 29 June 2012 11:38 Written by TradersHuddle Wire

New York, June 29th (TradersHuddle.com) - Unusual high volume detected on shares of Travelers Companies, Inc. (NYSE:TRV) early in the trading session. The pace in volume of Travelers points to a break above average, with buyers stepping in, as the stock is 0.03% higher.

The Travelers Companies, Inc. (NYSE:TRV) provides commercial property casualty insurance and asset management services. The Company underwrites homeowners and auto insurance through independent agents. The Financial, Professional, and International Insurance segment provides surety and financial liability coverage, which requires a credit-based underwriting process, and property and casualty products primarily in the U.S., the United Kingdom, Ireland, and Canada. The insurer was founded in 1853 and is headquartered in St. Paul, MN

Travelers has already traded 0.765 times its 3-month average volume and has calculated support and resistance at $60.08 and $65.27 respectively. Traders like to use volume as their lie detector for price action movement through predefined trading ranges.

The overall market index S&P 500 is trading higher by 1.92% from its previous trading close, which means that Travelers stock is underperforming the overall market.