Renaissance RE Holdings – Channel Breakdown

By | March 27, 2015

Renaissance RE Holdings (RNR) shares are breaking below a key channel support area marked by the intersection of the 50 and 200 day moving averages, and a support line drawn off the March lows. Chaikin Money Flow and MacD are crossing below their centerlines, reflecting negative price and money flow momentum. The channel breakdown projects to an initial price target in the $97.00 area.

3327.RNRchart

I am short shares on RNR.

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