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Watch for Continued Losses in Shares of Third Point Rein (TPRE)

By Nick Russo

Third Point Rein (NYSE:TPRE) traded at a new 52-week low today of $12.09. Approximately 52,000 shares have changed hands today, as compared to an average 30-day volume of 824,000 shares.

In the past 52 weeks, shares of Third Point Rein have traded between the current low of $12.09 and a high of $17.10 and are now at $12.12. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.

Third Point Reinsurance Ltd. provides reinsurance services. The Company offers property and casualty reinsurance products and solutions. Third Point Reinsurance serves customers globally.

Third Point Rein has overhead space with shares priced $12.12, or 27.3% below the average consensus analyst price target of $16.67. The stock should find initial resistance at its 50-day moving average (MA) of $13.14 and further resistance at its 200-day MA of $13.51.

SmarTrend is tracking the current trend status for Third Point Rein and will alert subscribers who have TPRE in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows third point rein

Ticker(s): TPRE