Insurance Technology Industry News

TMCNet:  Upgrade Alert for ACE (ACE)

[January 10, 2013]

Upgrade Alert for ACE (ACE)

Jan 10, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- ACE (NYSE:ACE) was upgraded from Market Perform to Outperform at Wells Fargo today. The stock closed yesterday at $80.64 on volume of 1.3 million shares, below average daily volume of 1.5 million. ACE Limited is the holding company for the ACE Group of Companies, a property and casualty insurance business. The Group provides a diversified range of products and services to clients through operations in countries around the world. ACE provides specialty insurance and reinsurance products.

In the past 52 weeks, ACE share prices have been bracketed by a low of $68.53 and a high of $82.39 and closed yesterday at $80.64, 18% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

There is potential upside of 10.7% for shares of ACE based on a current price of $80.64 and an average consensus analyst price target of $89.29. The stock should discover initial support at its 50-day moving average (MA) of $79.46 and subsequent support at its 200-day MA of $75.50.

SmarTrend is tracking the current trend status for ACE and will alert subscribers who have ACE in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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