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After Yesterday's Rally of 1.04% Shares Could Potentially Pullback

By Amy Schwartz

Everest Re Group (NYSE:RE) traded in a range yesterday that spanned from a low of $242.70 to a high of $247.45. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $245.98 on volume of 110,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Everest Re Group share prices have been bracketed by a low of $167.07 and a high of $258.30 and are now at $244.91, 47% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Everest Re Group on October 14th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $194.05. Since that recommendation, shares of Everest Re Group have risen 25.7%. We continue to monitor RE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders everest re group

Ticker(s): RE