RLI CORP (RLI) Stock Technical Analysis
NYSE:RLI - New York Stock Exchange, Inc. - US7496071074 - Common Stock - Currency: USD
We assign a technical rating of 5 out of 10 to RLI. RLI has been an average performer in the overall market. Recently some decent action could be observed, but in the medium term time frame this is still negative.
RLI has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 77.65. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 76.16, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for RLI in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
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3 important support areas can be observed.
- A support zone ranging from 73.79 to 76.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 71.75 to 72.48. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @69.37 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @77.65 from a horizontal line in the daily time frame.
- A resistance zone ranging from 79.10 to 80.82. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for RLI is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for RLI is up. |
| ChartMill Relative Strength | 64.7 | NEUTRAL | RLI is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of RLI is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of RLI is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | MIXED | The current price of RLI is below the rising SMA(200). |
| Relative Strength Index/RSI (14) | 58.69 | NEUTRAL | The RSI value for RLI is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.32 | POSITIVE | The MACD value suggests RLI has a positive trend. |
| Stochastics (14,3) | 93.13 | OVERBOUGHT | The high Stochastics value suggests RLI may be overbought. |
| Average True Range in percent/ATR (20) | 1.52 | LOW VOLATILITY | The low ATR as a percentage value for RLI suggests low volalility. |
| Average Directional Index/ADX (14) | 18.38 | NEGATIVE | The low ADX value for RLI suggests a weak or negative trend. |
77.11
+0.24 (+0.31%)