RenaissanceRe Holdings Ltd Stock Forecast
Red day on Friday for RenaissanceRe Holdings Ltd stock after losing 0.237%
(Updated on Apr 26, 2024)
The RenaissanceRe Holdings Ltd stock price fell by -0.237% on the last day (Friday, 26th Apr 2024) from $219.60 to $219.08. It has now fallen 4 days in a row. During the last trading day the stock fluctuated 1.87% from a day low at $215.76 to a day high of $219.79. The price has been going up and down for this period, and there has been a 1.53% gain for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -37 thousand shares and in total, 174 thousand shares were bought and sold for approximately $38.04 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect RenaissanceRe Holdings Ltd stock with a 90% probability to be traded between $209.93 and $232.66 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
RNR Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The RenaissanceRe Holdings Ltd stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $221.86 and $227.34. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -3.41%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for RenaissanceRe Holdings Ltd stock
RenaissanceRe Holdings Ltd finds support from accumulated volume at $217.65 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.03 between high and low, or 1.87%. For the last week, the stock has had daily average volatility of 2.04%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RNR) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect RenaissanceRe Holdings Ltd to open at $218.21, and during the day (based on 14 day Average True Range), to move between $214.58 and $223.58, which gives a possible trading interval of +/-$4.50 (+/-2.05%) up or down from last closing price. If RenaissanceRe Holdings Ltd takes out the full calculated possible swing range there will be an estimated 4.10% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $217.65 (0.65%) than the resistance at $223.18 (1.87%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
RenaissanceRe Holdings Ltd will release earnings AMC on Tuesday, April 30, 2024.The consensus among the analysts for the expected earnings (EPS) is $9.95. We will update the financials statements for RenaissanceRe Holdings Ltd, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.29% in the first trading day after earnings release.
Is RenaissanceRe Holdings Ltd stock A Buy?
RenaissanceRe Holdings Ltd holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -2.630 Sell Candidate Unchanged
Predicted Opening Price for RenaissanceRe Holdings Ltd of Monday, April 29, 2024
Fair opening price April 29, 2024 | Current price |
---|---|
$218.21 ( 0.397%) | $219.08 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNR
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 222.24 | 1.44 % | |
R2 | 220.70 | 0.740 % | ||
R1 | 219.75 | 0.306 % | ||
Current price: | 219.08 | |||
Support | S1 | 216.67 | -1.10 % | |
S2 | 215.72 | -1.53 % | ||
S3 | 214.18 | -2.24 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 228.83 | 4.45 % | |
R2 | 225.94 | 3.13 % | ||
R1 | 223.18 | 1.87 % | ||
Current price | 219.08 | |||
Support | S1 | 217.65 | -0.653% | |
S2 | 215.06 | -1.83% | ||
S3 | 214.54 | -2.07% |
RNR Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 06, 2024 | Mar 14, 2024 | Mar 29, 2024 | $0.390 | 0.166% |
2 | Nov 08, 2023 | Dec 14, 2023 | Dec 29, 2023 | $0.380 | 0.194% |
3 | Aug 02, 2023 | Sep 14, 2023 | Sep 29, 2023 | $0.380 | 0.192% |
4 | May 10, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.380 | 0.204% |
5 | Feb 08, 2023 | Mar 14, 2023 | Mar 31, 2023 | $0.380 | 0.190% |
FAQ
Click here for our free guide on how to buy RenaissanceRe Holdings Ltd Stock.