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Look for Shares of Everest Re Group to Potentially Pullback after Yesterday's 1.44% Rise

By David Diaz

Everest Re Group (NYSE:RE) traded in a range yesterday that spanned from a low of $257.16 to a high of $259.94. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $255.98 on volume of 162,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

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 31.7%. We continue to monitor RE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Everest Re Group share prices have been bracketed by a low of $167.07 and a high of $259.94 and are now at $259.37, 55% above that low price. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has remained constant.

Keywords: rebounders everest re group

Ticker(s): RE