RE breaks below prior session low
Everest Re Group Ltd. (RE) Technical Analysis Report for Jul 13, 2018 | by Techniquant Editorial Team
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 Candlestick Chart (RE as at Jul 13, 2018):
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.
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.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.