Shares of The Travelers Companies Inc (TRV) hit major technical support today at $80.00. This is a full 50% drop from its recent all-time high of near $160 and a major technical level from 2013. Quality stocks that may see minimal hardships from the coronvirus outbreak should be accumulated at these levels, especially if you have a 1+ year horizon for hold time.
I am anticipating a bounce back to $110.00 in the coming month for near-term swing traders. This technical level is the dream level for traders as full panic has hit the market.
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