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Arch Capital Looks to Continue to Trade Above its Annual-High Share Price Today

By James Quinn

Shares of Arch Capital (NASDAQ:ACGL) traded today at $85.15, breaking its 52-week high. So far today approximately 342,000 shares have been exchanged, as compared to an average 30-day volume of 335,000 shares.

Arch Capital share prices have moved between a 52-week high of $85.15 and a 52-week low of $59.83 and are now trading 36% above that low price at $81.25 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

Arch Capital Group Ltd. is a Bermuda-based insurance and financial services company that provides reinsurance and insurance products on a worldwide basis.

Based on a current price of $81.25, Arch Capital is currently 5.8% above its average consensus analyst price target of $76.53. Arch Capital shares have support at the 200-day moving average (MA) of $70.94 and additional support at the 50-day MA of $70.18.

SmarTrend recommended that subscribers consider buying shares of Arch Capital on July 29th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.40. Since that recommendation, shares of Arch Capital have risen 9.8%. We continue to monitor ACGL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows arch capital

Ticker(s): ACGL