Leading Insurance Stock Falls On Earnings: Here's The Trade – Investing.com

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Everest Re Group (NYSE:) is engaged in the underwriting of reinsurance and insurance in the United States, Bermuda and international markets. On Tuesday the stock fell by more than 3.5 percent after reporting . Traders and investors should note that the stock is now trading below its important 50-day moving average. This technical chart pattern puts RE in a weak position. The stock has also been making lower highs since July 2017 and this is also a sign of weakness in the near term.

Support Watch

The next major support level looks to be around the $194 area, which is where the stock broke out in October 2016. Often, prior breakout levels will serve as solid support when retested.

Everest Re Group

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