More Upside for Arch Capital ?

Published on Friday, 12 October 2012 12:34 Written by TradersHuddle Wire

acgl New York, October 12th (TradersHuddle.com) - Shares of Arch Capital Group Ltd. (NASDAQ:ACGL) booked a new 52 week high today by trading above $43.37, 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 0.35% versus its previous trading session close, and it has calculated support and resistance at $38.27 and $43.22 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 -0.36% from its previous trading close, which means that Arch Capital stock is outperforming the overall market.

Note - Automated Content Created By TradersHuddle's Technical Scanner

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