Selective Insurance Group (SIGI) is showing early signs of a potential bullish reversal after a sharp sell-off. This week, the stock has rebounded strongly from recent lows, closing above the $81 mark with increased trading volume, indicating renewed buying interest.
From a technical perspective:
• The strong bounce from support near $80 suggests that selling pressure is easing.
• Bullish volume has emerged following the recent earnings dip, showing accumulation by buyers.
• Momentum indicators (MACD & RSI) are starting to stabilize, which often precedes a short-term price recovery.
• Price is attempting to reclaim the mid-range of the Bollinger Bands, signaling potential for a push toward upper resistance levels.
Trade Idea:
• Entry: Around current levels ($81)
• Target 1: $86.90
• Target 2: $88.80
• Stop Loss: $80.70
If bullish momentum continues, we could see SIGI retesting the resistance zone around $87–$89 in the coming sessions.
From a technical perspective:
• The strong bounce from support near $80 suggests that selling pressure is easing.
• Bullish volume has emerged following the recent earnings dip, showing accumulation by buyers.
• Momentum indicators (MACD & RSI) are starting to stabilize, which often precedes a short-term price recovery.
• Price is attempting to reclaim the mid-range of the Bollinger Bands, signaling potential for a push toward upper resistance levels.
Trade Idea:
• Entry: Around current levels ($81)
• Target 1: $86.90
• Target 2: $88.80
• Stop Loss: $80.70
If bullish momentum continues, we could see SIGI retesting the resistance zone around $87–$89 in the coming sessions.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.