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Watch for Shares of Xl Group Ltd (XL) to Approach Support at $55.41

By Amy Schwartz

Xl Group Ltd (NYSE:XL) has opened bearishly below the pivot of $55.61 today and has reached the first level of support at $55.51. Analysts will be watching for a cross of the next downside pivot targets of $55.41 and $55.21.

In the past 52 weeks, Xl Group Ltd share prices have been bracketed by a low of $30.33 and a high of $56.39 and are now at $55.50, 83% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 0.4%.

Based on a current price of $55.50, Xl Group Ltd is currently 22.7% above its average consensus analyst price target of $42.92. The stock should find initial support at its 200-day moving average (MA) of $36.87 and further support at its 50-day MA of $35.63.

SmarTrend recommended that subscribers consider buying shares of Xl Group Ltd on February 2nd, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $38.17. Since that recommendation, shares of Xl Group Ltd have risen 45.7%. We continue to monitor XL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts xl group ltd

Ticker(s): XL