RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of GLRE
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Green day on Thursday for Greenlight Reinsurance
(Updated on Mar 28, 2024)

Buy candidate since Mar 27, 2024 Gain 3.40% PDF

The Greenlight Reinsurance stock price gained 3.40% on the last trading day (Thursday, 28th Mar 2024), rising from $12.06 to $12.47. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 3.18% from a day low at $12.11 to a day high of $12.49. The price has risen in 6 of the last 10 days and is up by 5.23% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 78 thousand more shares were traded than the day before. In total, 147 thousand shares were bought and sold for approximately $1.83 million.

The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.54% during the next 3 months and, with a 90% probability hold a price between $13.13 and $14.41 at the end of this 3-month period.

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GLRE Signals & Forecast

The Greenlight Reinsurance stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $12.08 and $12.02. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, February 29, 2024, and so far it has fallen -1.27%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Friday, January 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Buy
Special Signal Notification

Golden Star

The stock had a Golden Star Signal on Friday, January 19, 2024 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Greenlight Reinsurance stock

Greenlight Reinsurance finds support from accumulated volume at $11.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $0.385 (3.18%) between high and low. For the last week, the stock has had daily average volatility of 2.09%.

Our recommended stop-loss: $11.99 (-3.82%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 20 days ago.)

Trading Expectations (GLRE) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Greenlight Reinsurance to open at $12.36, and during the day (based on 14 day Average True Range), to move between $12.17 and $12.77, which gives a possible trading interval of +/-$0.300 (+/-2.41%) up or down from last closing price. If Greenlight Reinsurance takes out the full calculated possible swing range there will be an estimated 4.82% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $12.48 (0.08%) than the support at $11.92 (4.41%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Greenlight Reinsurance stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Greenlight Reinsurance stock to perform well in the short-term.

Current score: 4.574 Buy Candidate Unchanged

Predicted Opening Price for Greenlight Reinsurance of Monday, April 1, 2024

Fair opening price April 1, 2024 Current price
$12.36 ( 0.92%) $12.47

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for GLRE

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 12.74 2.17 %
R2 12.59 0.99 %
R1 12.50 0.257 %
Current price: 12.47
Support S1 12.21 -2.10 %
S2 12.12 -2.83 %
S3 11.97 -4.01 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 12.63 1.28 %
R2 12.50 0.241 %
R1 12.48 0.0802 %
Current price 12.47
Support S1 11.92 -4.41%
S2 11.85 -4.97%
S3 11.20 -10.18%

FAQ

What is the symbol for Greenlight Reinsurance Stock and on which exchange is it traded?
The symbol for Greenlight Reinsurance is GLRE and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Greenlight Reinsurance Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Greenlight Reinsurance stock to perform well in the short-term.

How to buy Greenlight Reinsurance Stock?
Greenlight Reinsurance Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Greenlight Reinsurance Stock.

What's the current price of Greenlight Reinsurance Stock?
As of the end of day on the 2024-03-28, the price of an Greenlight Reinsurance (GLRE) share was $12.47.

What is the 52-week high and low for Greenlight Reinsurance Stock?
The 52-week high for Greenlight Reinsurance Stock is $12.88 and the 52-week low is $9.29.

What is the market capitalization of Greenlight Reinsurance Stock?
As of the 2024-03-28, the market capitalization of Greenlight Reinsurance is 440.96M.

When is the next earnings date for Greenlight Reinsurance?
The upcoming earnings date for Greenlight Reinsurance is May 07, 2024.
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About Greenlight Reinsurance

Greenlight Reinsurance Greenlight Capital Re, Ltd., through its subsidiaries, operates as a property and casualty reinsurance company worldwide. The company offers various property reinsurance products and services, including automobile physical damage, personal lines, and commercial lines. It also provides casualty reinsurance products and services comprising general liability, motor liability, professional liability, and worker's compensation; and accident and health... GLRE Profile

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