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Recent 52-Week High Exceeded in Shares of Arch Capital (ACGL)

By Amy Schwartz

Shares of Arch Capital (NASDAQ:ACGL) traded today at $82.30, breaking its 52-week high. This new high was reached on below average trading volume as 69,000 shares traded hands, while the average 30-day volume is approximately 335,000 shares.

Arch Capital (NASDAQ:ACGL) defies analysts with a current price ($82.09) 6.8% above its average consensus 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.

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

In the past 52 weeks, Arch Capital share prices have been bracketed by a low of $59.83 and a high of $82.30 and are now at $82.09, 37% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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 12.9%. 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