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 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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