In a welcome move, RenaissanceRe Hldgs saw its Relative Strength Rating rise from 70 to 74 on Monday.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the trailing 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the market's biggest winners often have an 80 or better RS Rating in the early stages of their moves. See if RenaissanceRe Hldgs can continue to show renewed price strength and hit that benchmark.
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RenaissanceRe Hldgs is now considered extended and out of buy range after clearing a 239.42 buy point in a first-stage flat base. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Earnings growth decreased in the most recent quarter from 40% to 22%. But sales moved higher, from 53% to 116%.
RenaissanceRe Hldgs holds the No. 10 rank among its peers in the Insurance-Property/Casualty/Title industry group. Allstate, Mercury General and Intl General Insurance are among the top 5 highly rated stocks within the group.
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