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Bearish Moving Average Cross by Arch Capital Grp (ACGL)

By James Quinn

Arch Capital Grp (NASDAQ:ACGL) crossed under its 10-day moving average of $40.80 on a volume of 318K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Arch Capital Grp has traded in a range of $24.79 to $41.57 and is now at $40.65, 64% above that low. Over the last five market days, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.9%.

SmarTrend recommended that subscribers consider buying shares of Arch Capital Grp on January 9th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $27.01. Since that recommendation, shares of Arch Capital Grp have risen 51.6%. We continue to monitor ACGL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses arch capital grp

Ticker(s): ACGL