Arch Capital Group Ltd. Stock Forecast
Evaluation of Arch Capital Group Ltd. stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The Arch Capital Group Ltd. stock price fell by -0.0746% on the last day (Tuesday, 23rd Apr 2024) from $93.85 to $93.78. During the last trading day the stock fluctuated 0.99% from a day low at $93.45 to a day high of $94.37. The price has been going up and down for this period, and there has been a 2.81% gain for the last 2 weeks. Volume has increased on the last day by 187 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, 1 million shares were bought and sold for approximately $132.53 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 15.25% during the next 3 months and, with a 90% probability hold a price between $104.89 and $112.25 at the end of this 3-month period.
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ACGL Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -1.18%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The Arch Capital Group Ltd. 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 $91.89 and $91.24. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for Arch Capital Group Ltd. stock
Arch Capital Group Ltd. finds support from accumulated volume at $92.23 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 $0.92 between high and low, or 0.99%. For the last week the stock has had daily average volatility of 1.44%.
Our recommended stop-loss: $90.88 (-3.09%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (ACGL) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Arch Capital Group Ltd. to open at $93.87, and during the day (based on 14 day Average True Range), to move between $92.14 and $95.42, which gives a possible trading interval of +/-$1.64 (+/-1.75%) up or down from last closing price. If Arch Capital Group Ltd. takes out the full calculated possible swing range there will be an estimated 3.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $93.85 (0.07%) than the support at $92.23 (1.65%), 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.
Earnings coming up
Arch Capital Group Ltd. will release earnings AMC on Monday, April 29, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.06. We will update the financials statements for Arch Capital Group Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 2.44% in the first trading day after earnings release.
Is Arch Capital Group Ltd. 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 Arch Capital Group Ltd. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 1.160 Buy Candidate Downgraded
Predicted Opening Price for Arch Capital Group Ltd. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $93.87 ( 0.0937%) | $93.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ACGL
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.79 | 1.08 % | |
| R2 | 94.44 | 0.702 % | ||
| R1 | 94.22 | 0.470 % | ||
| Current price: | 93.78 | |||
| Support | S1 | 93.52 | -0.283 % | |
| S2 | 93.30 | -0.515 % | ||
| S3 | 92.94 | -0.89 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.90 | 1.19 % | |
| R2 | 94.55 | 0.82 % | ||
| R1 | 93.85 | 0.0746 % | ||
| Current price | 93.78 | |||
| Support | S1 | 92.23 | -1.65% | |
| S2 | 91.88 | -2.03% | ||
| S3 | 87.59 | -6.60% |
FAQ
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