The Hourly View for RLI
Currently, RLI (Get Ratings)’s price is up $0.35 (0.34%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as RLI has now gone up 4 of the past 5 hours. If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 hour timeframes. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
RLI ranks 31st in terms of today’s price percentage change out of Insurance stocks.
RLI’s Technical Outlook on the Daily Chart
At the time of this writing, RLI’s price is up $1.34 (1.32%) from the day prior. This is the 2nd day in a row RLI has seen its price head up. If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe. Of note is that the 20 and 200 day changed directions on RLI; they are now pointing up. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders. The chart below shows RLI’s price action over the past 90 days.
<In comparison to its 7 day average, RLI's volume of shares traded is 90.71% lower, now standing at 7850.
RLI: Daily RSI Analysis
- RLI’s RSI now stands at 87.931.
- RLI and RSI may be exhibiting divergent trends. This may be something to monitor.
For RLI News Traders
Investors and traders in RLI may be particularly interested in the following story that came out in the past day:
RLI Corp. (RLI) doesn’t possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
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The post Rli Corp (RLI): Price Now Near $103.12; Daily Chart Shows Downtrend on 50 Day Basis appeared first on ETF Daily News.