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Finance Banter Mid-Day Freebie - Bob Byrne

|Includes: RenaissanceRe Holdings Ltd. (RNR)

 Back on July 29th RNR gapped higher and promptly sold off…all on huge volume (circled in white). The stock has now made its way back to the top of its roughly four week range.  This thing could go either way. 

So, if you are bent long…watch for a break of 53 on strong volume.  If you are bearish, consider a short near the top of its range with a tight stop just above 53.

RNR 8-21

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Disclosure: No positions were held at the time of publication, though that may change at any time.