• Return to Headlines

Look for Shares of Renaissancere to Potentially Pullback after Yesterday's 2.92% Rise

By Amy Schwartz

Renaissancere (NYSE:RNR) traded in a range yesterday that spanned from a low of $133.49 to a high of $138.64. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $136.04 on volume of 182,000 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 Renaissancere on November 21st, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $128.98. Since that recommendation, shares of Renaissancere have risen 3.8%. We continue to monitor RNR for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

In the past 52 weeks, Renaissancere share prices have been bracketed by a low of $116.50 and a high of $142.56 and are now at $133.85, 15% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

Keywords: rebounders renaissancere

Ticker(s): RNR