Fri 23'rd Jun 2017
James River Group Holdings Stock Analysis
Technical stock analysis for Fri 23'rd Jun 2017
Buy candidate since 2017-06-23
James River Group Holdings lies in the middle of a wide and weak falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -5.7% during the next 3 months and, with 90% probability hold a price between USD 36.22 and USD 39.60 at the end of this period.
A buy signal was issued from a pivot bottom point on Thursday June 22, 2017, 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. 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 40.38. On a fall, the stock will find some support from the short-term average at USD 39.61. 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)
RSI14 is 52 and the stock is currently not being overbought or oversold
Support & Resistance
James River Group Holdings finds support from accumulated volume at USD 39.64, USD 39.61, and USD 39.16. On the upside the stock meets some resistance just above today's level from accumulated volume at USD 40.17, USD 42.60 and USD 39.95.
The stock is about to test the resistance from accumulated volume at USD 40.17 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 0.92 (2.37%) between high and low. For the last week, the stock has had a daily average volatility of 2.74%.
Our recommended stoploss: USD 37.51 (-5.64%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from pivot bottom found 1 days ago.)
Several short-term signals are positive, despite the stock being in a weak falling trend, 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.
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