Technical Spotlight: Tracking Shares of Renaissancere Holdings Ltd (RNR)

The Percentage Price Oscillator Histogram trend indicator is currently under zero on shares of Renaissancere Holdings Ltd (RNR). Active traders may be carefully tracking the indicator to see if the position is pointing to the stock as a sell.

Following a pre-defined trading system might be a solid choice for securing profits in the stock market. Defining goals before creating a plan can be a good way to start the trader off on the right path. There are bound to be many ups and downs throughout the trading process. Being able to manage wins and losses may be one of the most important factors to becoming a successful trader. Without a researched plan, traders may realize how quick the losses can pile up. Properly managing risk, position size, entry and exit points, and stops, may come with experience, but it is typically necessary in order to stay above water in the fast paced market environment.

After a recent technical review, shares of Renaissancere Holdings Ltd (RNR) have a 200-day moving average of 131.50. The 50-day is 139.37, and the 7-day is sitting at 144.63. Using a wider time frame to assess the moving average such as the 200-day, may help block out the noise and chaos that is often caused by daily price fluctuations. In some cases, MA’s may be used as strong reference points for spotting support and resistance levels. Employing the use of the moving average for technical equity analysis is still highly popular among traders and investors. The moving average can be used as a reference point to assist with the discovery of buying and selling opportunities.

Presently, Renaissancere Holdings Ltd (RNR) has a 14-day Commodity Channel Index (CCI) of 110.17. The CCI technical indicator can be used to help determine if a stock is overbought or oversold. CCI may also be used to help discover divergences that could possibly signal reversal moves. A CCI closer to +100 may provide an overbought signal, and a CCI near -100 may offer an oversold signal.

Technical traders often make a point of keeping an eye on the ATR or Average True Range of a particular equity. Currently, Renaissancere Holdings Ltd (RNR) has a 14-day ATR of 2.18. The Average True Range is an investor tool used to measure stock volatility. The ATR is not used to figure out price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. Wilder has developed multiple indicators that are still quite popular in today’s investing landscape. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.

Renaissancere Holdings Ltd (RNR)’s Williams Percent Range or 14 day Williams %R presently is at -19.91. In general, if the reading goes above -20, the stock may be considered to be overbought. Alternately, if the indicator goes under -80, this may show the stock as being oversold.

We can also do some further technical analysis on the stock. At the time of writing, the 14-day ADX for Renaissancere Holdings Ltd (RNR) is 29.21. Many technical chart analysts believe that an ADX value over 25 would suggest a strong trend. A reading under 20 would indicate no trend, and a reading from 20-25 would suggest that there is no clear trend signal. The ADX is typically plotted along with two other directional movement indicator lines, the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI). Some analysts believe that the ADX is one of the best trend strength indicators available.

Investors looking to secure stock market profits may be tweaking an existing strategy or looking to devise a brand new one. As the stock market keeps charging higher, investors will have to figure out how they want to play the next few months. Identifying market tops and possible correction levels may be very tricky. With the markets trading at current levels, the situation for the average investor may be widely varied. Some investors will be trading with a shorter-term plan, while others may be focused on a longer-term investment time frame. There are many financial professionals who are predicting a sharp reversal in the stock market, but there are also those who believe that the upswing will keep pushing stocks higher over the coming months. Investors will need to decide for themselves which way they think the momentum is going to swing and prepare accordingly. 

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