RenaissanceRe Technical Analysis (NYSE:RNR)
Technical analysis is the study of stock price and volume data through technical charts. This analysis does not take into account the intrinsic value of a stock. The RNR stock chart pattern can give those who understand technical analysis an indication of which way RNR stock is headed, but cannot predict with 100% certainty as to what can happen to the RenaissanceRe stock price.
See RenaissanceRe bollinger bands, SMA - 200 day moving average, 50 day moving average and exponential moving averages. The technical analysis form of RenaissanceRe stock analysis tries to understand the market by studying the stock market trend itself as opposed to other aspects like the company's fundamentals.
RenaissanceRe Moving Average
Moving averages show the RNR stock price trend. The two most popular types of moving averages are the Simple Moving Average or SMA and the Exponential Moving Average or EMA. The longer the duration of the moving average, the higher the lag. For example, 200 day moving averages for RenaissanceRe are mostly signals of long term trends and will help long term traders.
RenaissanceRe Bollinger Bands
Bollinger bands consist of two price bands above and below a center line for any company stock like RenaissanceRe. The tightening of bands is considered by most traders to be a precursor to sudden increase in volatility. RenaissanceRe bollinger bands show that the stock price is $135.43, upper band is 136.92, lower band is 126.16, and the average is 131.54.
RenaissanceRe Moving Average Convergence Divergence or MACD
The moving average convergence divergence or MACD is a technical indicator which helps assess the stock price trend. Traders usually wait for a confirmed crossover signal before entering into a trading position. Divergence implies that the current stock price trend could come to an end, when the stock price diverges from MACD. The RenaissanceRe MACD indicator is above 0 indicating a bullish trend.
RenaissanceRe Relative Strength Index
The relative strength index compares the magnitude of recent gains to recent losses and is a momentum indicator. It attempts to assess overbought and oversold conditions of a stock. If the RSI of RNR stock goes above 70 it could indicate an overbought condition, and if it goes below 30 it could signal an oversold position.