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Global Insurance Co. OBV Line Slopes Up

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Yesterday, we looked at a Daily Price Chart of Alphabet Inc. and noted that the stock had been making a series of higher highs and higher lows.

Today’s chart is for Arch Capt. Grp. Ltd. (NYSE: ACGL).

Arch Capital Group Ltd., together with its subsidiaries, provides property, casualty, and mortgage insurance and reinsurance products worldwide.

The current price of ACGL is trading higher than it was exactly six months ago. The On Balance Volume (OBV) Chart is shown directly below the Daily Price Chart.

Here’s what you need to know about the OBV Line: it measures how much volume is either pushing the stock up, or down. Meaning, the volume of stock that’s being sold or bought.

Using a stock’s volume in this way can confirm an uptrend by reflecting that more people are buying the stock than are selling it. Take a look at the chart below…

OBV Line Reveals ACGL in Price Uptrend

We can see from the OBV chart shown above that the On Balance Volume Line for ACGL is sloping up.

This indicates that the volume is heavier on up-days and buying pressure is exceeding selling pressure.

Buying pressure must continue to exceed selling pressure in order to sustain a price uptrend. So, the OBV Line is a simple indicator to use that confirms the price uptrend and its sustainability.

We’ll be sure to keep following Arch Capt. Grp. Ltd., as the stock’s buying pressure exceeds it’s selling pressure and the price uptrend continues.

Maximizing Our Profit Potential

Additionally, we’d like to talk about how a previous Chart of the Day stock has done…

On December 12th, we highlighted Lululemon Athletica Inc. (NYSE: LULU), noting that LULU had been making a series of higher highs and higher lows.

If you happened to have purchased LULU shares on that day, you’d be up 12.67%.

But… if you had purchased the right option contract, you would be up 31.31% in just two month’s time!

That’s why we focus on leveraging options in my premium research trading and training service, PowerTrend Options.

My “X-Ray” system — based on pure, technical analysis —is what I’ve used to trade options, win international trading competitions, and support my family for the past 30 years.

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But we know that some people like to walk before they run… and so we designed a class just for them, called the Thunderbird Options Course. Complete with syllabus, videos, and quizzes. Check out the details if you haven’t yet!

Best Regards,

Chuck Hughes
Editor, Chart Of The Day

The post Global Insurance Co. OBV Line Slopes Up appeared first on Laissez Faire.



Source: http://freedombunker.com/2020/02/12/global-insurance-co-obv-line-slopes-up/
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