Travelers (TRV) has been trending higher from its 2008 low and there doesn't seem to be any big technical barrier on the horizon to prevent that from continuing.
In this daily chart of TRV, above, we can see that the stock has maintained a rough uptrend the past 12 months. Prices are above the rising 200-day simple moving average line and that mathematical uptrend line was tested in April, May and June.
TRV has recently crossed above and below the 50-day average line. The On-Balance-Volume (OBV) line has been declining on this timeframe, which suggests that there has been profit-taking on strength.
In this three-year weekly chart of TRV, above, we can see part of the long-term uptrend we noted earlier. TRV is above the rising 40-week moving average line. The OBV line on this weekly timeframe has been rising, unlike the daily picture.
One minor bearish clue we noticed is that momentum was weaker on the April rally than the November rally. This bearish divergence may not mean anything, or only translate into some sideways movement for TRV.
A bearish divergence doesn't have to mean that prices are vulnerable to a decline. A close above $115 and then $118 would refresh the uptrend, while a decline to $107 would weaken the short-term picture.