RE breaks below prior session low

Everest Re Group Ltd (RE) Technical Analysis Report for Jul 13, 2018

Highlights

RE breaks key support level
RE closes lower for the 4th day in a row
RE breaks below previous session low
RE falls to lowest close since July 6th

TQ Sentiment

Report Sentiment:
40% Bearish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

Moving lower for the 4th day in a row, RE finished the week 0.47% higher at 231.55 after losing $1.30 (-0.56%) today. Today's closing price of 231.55 marks the lowest close since July 6th. Closing below Thursday's low at 231.88, the market confirms its breakout through the prior session's low having traded $1.13 below it intraday.

Daily chart for RE

Volatility

Friday's trading range was $2.37 (1.02%), that's far below last trading month's daily average range of $3.51. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

Prices are trading close to a key support level at 229.76. Breaking below the key support level at 231.87 today, it is now likely to act as resistance going forward.

Trend

Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Everest Re Group Ltd

Loading Market Conditions for $RE (Everest Re Group Ltd)...
Latest Report:

RE breaks key support level

Sep 24, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Everest Re Group Ltd traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!