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Technical Analysis
- 11/19/2009 8:54:10 AM
By Chip Brian, SmarTrend Analytics Team
Selective Insurance (NASDAQ:SIGI) upgraded to Buy, $18 target, at BofA/Merrill. The stock closed yesterday at $15.32 on volume of 90,567 shares, below average daily volume of 196,403.
Selective Insurance is currently above its 200-day moving average of $14.25 and should find resistance at its 50-day moving average of $15.86.
SmarTrend is bullish on shares of SIGI and our subscribers received an Uptrend alert on March 18, 2009 at $12.80, which has returned 19.6% to date.
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