Arch Capital Group Ltd. Forecast and Stock Analysis
Technical ACGL stock analysis for April 24, 2019.
Arch Capital Group Ltd. gained 0.03% in the last trading day, rising from $32.75 to $32.76 , and has now gained 3 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. The price has risen in 6 of the last 10 days and is up by 2.02% over the past 2 weeks. Volume has increased in the last day along with the price, which is a positive technical sign, and, in total, 0.33 million more shares were traded than the day before. In total, 1.36 million shares bought and sold for approximately $44.55 million.
Close price at the end of the last trading day (Wednesday, 24th Apr 2019) of the ACGL stock was $32.76. This is 0.03% more than the trading day before Tuesday, 23rd Apr 2019.
During day the stock fluctuated 1.65% from a day low at $32.63 to a day high of $33.17.
30 day high of the ACGL stock price was $33.25 and low was $31.68.
90 day high was $33.25 and low was $28.52.
52 week high for the Arch Capital Group Ltd. - $84.36 and low - $24.79.
Arch Capital Group Ltd. lies in the lower part of a weak rising trend in the short term, and this will normally pose a very good buying opportunity. A break down the bottom trend line at $32.29 will firstly indicate a slower raising rate, but may also be a early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 9.25% during the next 3 months and, with 90% probability hold a price between $35.27 and $37.88 at the end of this period.
Only positive signals in the chart today. Arch Capital Group Ltd. holds buy signals from both short- and long-term moving averages. In addition, 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 $32.61 and $32.43. A break down below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday April 22, 2019, which indicates further gains until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal.
Relative Strength Index (RSI)
RSI14 is 54 and the stock is currently not being overbought or oversold
Support & Resistance
Arch Capital Group Ltd. finds support from accumulated volume at $32.36.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.54 (1.65%) between high and low. For the last week, the stock has had a daily average volatility of 1.54%.
Our recommended stoploss: $31.00 (-5.37%) (This stock has low daily movements and this gives low risk. There is a buy signal from pivot bottom found 2 days ago.)
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Evaluation: Strong Buy Candidate
Arch Capital Group Ltd. holds several positive signals and is within a weak rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
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|ACGL $32.76 ($0.01 0.03%)|
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