Here we’ll start by taking a look at the Bollinger Band signal, specifically the 20 day reading. This indicator can be used to identify short-term overbought and oversold zones, to confirm divergences between prices and indicators and to predict future price targets. The 20-Day Bollinger Band currently is signaling a “Hold” for RenaissanceRe Holdings Ltd. (RNR). Bollinger Bands are among the most popular and powerful of the many indicators that traders can choose from. As the name implies, Bollinger Bands are price channels that are plotted above and below price. The outer bands are based on volatility in price, which means that they expand when price fluctuates and trends strongly, and the Bands contract during sideways consolidations and low momentum trends.
Checking the trend signals on shares of RenaissanceRe Holdings Ltd. (RNR), we can see that the trendspotter opinion is presently “Sell”. This signal uses a system combining volatility, momentum, and wave theory to help identify the general trend. The trendspotter strength signal is currently Average. This signal is compared to the historical performance where maximum would be considered the strongest, and minimum would be touted as the weakest. In terms of direction, the trendspotter signal is currently Weakening. This signal may indicate if the Buy or Sell is weakening or gaining strength, or if the Hold is leaning towards a Buy or Sell.
Technical analysts have been monitoring shares of RenaissanceRe Holdings Ltd. (RNR) as of late. The Relative Strength Index (RSI) is one of multiple popular technical indicators created by J. Welles Wilder. Wilder introduced RSI in his book “New Concepts in Technical Trading Systems” which was published in 1978. RSI measures the magnitude and velocity of directional price movements. The data is represented graphically by fluctuating between a value of 0 and 100. The indicator is computed by using the average losses and gains of a stock over a certain time period. RSI can be used to help spot overbought or oversold conditions. An RSI reading over 70 would be considered overbought, and a reading under 30 would indicate oversold conditions. A level of 50 would indicate neutral market momentum. Presently, the 14-day RSI is standing at 33.56, the 7-day is 32.44, and the 3-day is resting at 33.41.
RenaissanceRe Holdings Ltd. (RNR) currently has a 1 month MA of 126.38. Investors may use moving averages for various reasons. Some may use the moving average as a primary trading tool, while others may use it as a back-up. Investors may keep an eye out for when the stock price crosses a particular moving average and then closes on the other side. These moving average crossovers may be used to help spot momentum shifts, or possible entry/exit points. A cross below a certain moving average may signal the start of a downward move. On the flip side, a cross above a moving average may suggest a possible uptrend. Investors may be focused on many different time periods when studying moving averages. The stock currently has a 3 month MA of 133.18, and a 6 month MA of 130.1.
Currently, the 14-day ADX for RenaissanceRe Holdings Ltd. (RNR) is sitting at 37.55. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.
Investors have the ability to use technical indicators when completing stock research. At the time of writing, RenaissanceRe Holdings Ltd. (RNR) has a 14-day Commodity Channel Index (CCI) of -100.32. Developed by Donald Lambert, the CCI is a versatile tool that may be used to help spot an emerging trend or provide warning of extreme conditions. In terms of Moving Averages, the 7-day is resting at 123.98. Moving averages have the ability to be used as a powerful indicator for technical stock analysis. Interested traders may be keeping an eye on the Williams Percent Range or Williams %R. Williams %R is a popular technical indicator created by Larry Williams to help identify overbought and oversold situations. RenaissanceRe Holdings Ltd. (RNR)’s Williams Percent Range or 14 day Williams %R currently sits at -87.88. In general, if the indicator goes above -20, the stock may be considered overbought. Alternately, if the indicator goes below -80, this may point to the stock being oversold.