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Relative Strength Insurance Growth Name Nears Fresh Highs

by | Jul 18, 2024

Ryan Specialty Group (RYAN) shares of the small cap insurance name seeing strong double digit revenue growth are nearing a breakout from its monthly value area and closed green the past few days as the broad markets rotate sectors and the financial insurer group continues to see money flows. A breakout above 59 should retest the prior highs near 61 with a higher Fibonacci extension target at 62.82 and then 64.76. The 9% short interest also can spark a squeeze as prices near fresh all time highs.

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