Travelers technical notes before earnings news
The stock has been trading in a narrow sideways range since June of this year bound by a low at $115 and a high at $119. Price is near the middle of that range heading into the report. If the news is bullish, the top of the range and 52-week high at $119.32 would be first resistance. Without overhead resistance beyond the high, a run to the $120 to $125 area would be probable. Projecting forward the trend in place prior to this congestion zone gives an upper target close to $130. If the news is a negative surprise, the low of the range would likely be tested. If price breaks the low of the range that would turn the long-term trend to bearish. Support levels to watch as potential downside objectives below $115 are at $112.86, the $110 area, and $105.40. The 52-week low is at $101.23.