• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for James River Grou (NASDAQ:JRVR)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in James River Grou (NASDAQ:JRVR) based on the price action in the company's shares. Yesterday's price range of $42.44 and $42.87 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of James River Grou may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, shares of James River Grou have traded between a low of $30.69 and a high of $46.20 and closed yesterday at $42.63, which is 39% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

James River Grou (NASDAQ:JRVR) is currently priced 4.6% above its average consensus analyst price target of $40.67. The stock should find initial support at its 50-day moving average (MA) of $40.95 and further support at its 200-day MA of $38.38.

James River Group Holdings, Ltd. owns and operates a group of specialty insurance and reinsurance companies. The Company includes excess and surplus lines, specialty admitted insurance and casualty reinsurance segments. James River Group Holdings is incorporated in Bermuda with subsidiaries in the United States.

SmarTrend recommended that subscribers consider buying shares of James River Grou on March 15th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $36.28. Since that recommendation, shares of James River Grou have risen 18.2%. We continue to monitor JRVR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bearish am inside day candle james river grou

Ticker(s): JRVR