Renaissancere Holdings Ltd. Stock Forecast
Renaissancere Holdings Ltd. stock price down 1.01% on Friday
(Updated on Jun 28, 2024)
The Renaissancere Holdings Ltd. stock price fell by -1.01% on the last day (Friday, 28th Jun 2024) from $17.80 to $17.62. During the last trading day the stock fluctuated 2.22% from a day low at $17.53 to a day high of $17.92. The price has fallen in 5 of the last 10 days and is down by -0.9% for this period. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 19 thousand shares were bought and sold for approximately $342.16 thousand.
The stock is moving within a 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 $16.57 and $17.73 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.
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RNR-PG 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. On corrections up, there will be some resistance from the lines at $17.88 and $17.78. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 25, 2024, and so far it has fallen -2.38%. Further fall is indicated until a new bottom pivot has been found. Renaissancere Holdings Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".
A buy signal from a double bottom formation was found on Tuesday, June 11, 2024 and based on theory for this formation the price should go up by 4.56% to $18.42 within 37 trading days since signal was issued (Monday, August 05, 2024).
Support, Risk & Stop-loss for Renaissancere Holdings Ltd. stock
Renaissancere Holdings Ltd. finds support from accumulated volume at $17.38 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $0.390 between high and low, or 2.22%. For the last week the stock has had daily average volatility of 1.31%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (RNR-PG) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Renaissancere Holdings Ltd. to open at $17.69, and during the day (based on 14 day Average True Range), to move between $17.36 and $17.88, which gives a possible trading interval of +/-$0.261 (+/-1.48%) up or down from last closing price. If Renaissancere Holdings Ltd. takes out the full calculated possible swing range there will be an estimated 2.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.66 (0.23%) than the support at $17.38 (1.36%), 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 Renaissancere Holdings Ltd. stock A Buy?
Renaissancere Holdings Ltd. holds several negative signals and is within a 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: -2.928 Sell Candidate Unchanged
Predicted Opening Price for Renaissancere Holdings Ltd. of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| $17.69 ( 0.397%) | $17.62 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for RNR-PG
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.08 | 2.61% |
| R2 | 17.93 | 1.77% |
| R1 | 17.84 | 1.24% |
| Price | 17.62 | |
| S1 | 17.54 | -0.448% |
| S2 | 17.45 | -0.97% |
| S3 | 17.30 | -1.82% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 18.01 | 2.21% |
| R2 | 17.98 | 2.04% |
| R1 | 17.66 | 0.227% |
| Price | 17.62 | |
| S1 | 17.38 | -1.36% |
| S2 | 17.20 | -2.38% |
| S3 | 17.15 | -2.67% |
RNR-PG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 03, 2024 | $0.263 | 1.49% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Mar 01, 2024 | $0.263 | 1.41% |
| 3 | Nov 29, 2023 | Nov 29, 2023 | Dec 01, 2023 | $0.263 | 1.56% |
| 4 | Aug 30, 2023 | Aug 30, 2023 | Aug 30, 2023 | $0.263 | 1.59% |
| 5 | May 30, 2023 | May 30, 2023 | May 30, 2023 | $0.263 | 1.47% |
FAQ
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