JRVR - James River Group Holdings Fri 24'th Mar 2017
James River Group Holdings Stock Analysis
Stock analysis for Fri 24'th Mar 2017 (Updated daily) Buy candidate since 2017-03-23
James River Group Holdings gained 1.92% in the last trading day, rising from USD 39.66 to USD 40.42. , 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 been going up and down for this period, and there has been a -2.44% loss for the last 2 weeks. Volume fell in the last day by -158 114 shares and ,in total, 92 830 shares bought and sold for approximately USD 3.75 million. You should note that falling volume on higher prices causes divergence and may be an early warning about possible changes for the next couple of days.
Given the current horizontal trend you can expect James River Group Holdings with 90% probability to be traded between USD 40.13 and USD 43.06 at the end of this period with 90% probability. 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 roof. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
A buy signal was issued from a pivot bottom point on Wednesday March 22, 2017, which indicates further gains until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. James River Group Holdings holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general salessignal in the stock. On further gains, the stock will meet resistance from the long-term moving average at USD 41.84. On a fall, the stock will find some support from the short-term average at USD 40.37. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal.
Relative Strength Index (RSI)
The stock currently holds a RSI14 at 23 and is oversold on RSI14. The stock being oversold is no guarantee for instant reaction up as some stocks may be oversold for a long time. It is important to review the previous RSI-history to get an indication of the RSI-sensitiveness.
Support & Resistance
James River Group Holdings finds support from accumulated volume at USD 40.29, USD 39.66, and USD 39.65. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 41.43, USD 44.20 and USD 41.23.
The stock is about to test the resistance from accumulated volume at USD 41.43 and this may cause the stock to take a minor break or get into a more sideways move for a few days.
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 USD 0.71 (1.78%) between high and low. For the last week, the stock has had a daily average volatility of 2.80%.
James River Group Holdings is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.
Our recommended stoploss: USD 38.74 (-4.16%) ( criteria: risk and closeness to support from trendline.)
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. We have upgraded our recommendation for this stock since last evaluation from a Hold/Accumulate to a Buy Candidate.