Arch Capital Booked a New High
Published on Friday, 10 February 2012 11:34 Written by TradersHuddle Wire
New York, February 10th (TradersHuddle.com) - Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) booked a new 52 week high today by trading above $38.06, traders are definitely monitoring Arch Capital's price action to see if this move attracts further buying into the stock.
Arch Capital Group Ltd. (NASDAQ:ACGL) is a Bermuda-based insurance and financial services company that provides reinsurance and insurance products on a worldwide basis.
Arch Capital is currently trading -0.37% versus its previous trading session close, and it has calculated support and resistance at $35.49 and $38.06 respectively. Clearly with this action this range has been penetrated, and traders will be reviewing price action to establish a new tradable range
The overall market index S&P 500 is trading lower by -0.77% from its previous trading close, which means that Arch Capital stock is outperforming the overall market.
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