ACGLO -Long Position

ACGLO Company - Long Position (Weekly Graph) 🚀 Entry: $22.83

Arch Capital Group Ltd. is an American company headquartered in Bermuda, operating with a public guarantee. It specializes in underwriting insurance, reinsurance, and mortgage insurance globally, with a focus on handling challenging and unconventional risks in the insurance industry. The company operates in various regions, including Bermuda, the United States, Canada, Europe, Australia, and in the case of mortgage insurance, Hong Kong.

Technical Analysis:
Starting January 2022, a price level of $23.70 has acted as a solid resistance, akin to a concrete wall that remains unbreached. However, since November 4, 2022, the stock has been showing increasing momentum.

At or above $23.23, I may consider increasing the position, and further at $23.35, with a decisive move beyond $23.70 as a breakout signal.

On the downside, if the price falls below $22, we will part ways amicably, adhering to our risk management strategy.

For the mid-term, our target prices are set at $27.00 and $28.50.

Please note, this is not a recommendation, but rather an analysis and observation of the stock.