Insurance Technology Industry News

TMCNet:  Upgrade Alert for ACE (ACE)

[February 01, 2013]

Upgrade Alert for ACE (ACE)

Feb 01, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- ACE (NYSE:ACE) was upgraded from Hold to Buy at Miller Tabak today. The stock closed yesterday at $85.33 on volume of 3.7 million shares, above average daily volume of 1.5 million. In the past 52 weeks, ACE share prices have been bracketed by a low of $68.53 and a high of $85.72 and closed yesterday at $85.33, 25% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.3%.

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.

There is potential upside of 4.5% for shares of ACE based on a current price of $85.33 and an average consensus analyst price target of $89.17. The stock should discover initial support at its 50-day moving average (MA) of $81.26 and subsequent support at its 200-day MA of $76.33.

SmarTrend recommended that subscribers consider buying shares of ACE on November 23rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $79.42. Since that recommendation, shares of ACE have risen 7.4%. We continue to monitor ACE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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