KNSL Completes Reversal

[Image](?awt_a=5793&awt_l=GfkcQ&awt_m=3VrW_q5rZlkG893) Hey Traders, Friday was an ugly day in the market as the Nasdaq was down over 3% and as I type this down .7% pre market. Is this another pull back or start of something bigger? Only time will tell but the Nasdaq is approaching potential support at a cluster of moving averages (20, 50, 200). If it breaks the low of April 21st....then I will be concerned. Until then just cautious..... Kinsale Capital Group (KNSL) completed a weekly reversal pattern last week on a nice earnings report. The stock was up 10% on Friday when the market was going the other way. KNSL offers property and casualty insurance. Not really an exciting industry but if you look at the chart you can see that this has been a steady company. Earnings are estimated to grow 18% this year and 11% in 2021. Sales growth has ranged from 11% (most recent quarter) to 63% over the last 8 quarters. Return on Equity is a solid 16% and mutual fund ownership has increased from 316 to 413 the last 12 months. Not bad across the board. Given the market is coming under a little pressure I am going to see if this stock can pull back a little bit (just like we did on COUP and it worked out:) I would definitely prefer to get this stock closer to $110. I will keep an eye on it and the market and let you know when it's time... Sidenote: I talked about Cannabis stocks starting to show some life last week. They had a rough couple of days Thursday and Friday and looked like they wanted to roll back over. However, they are up pre market. Keeping on eye on this volatile sector Sincerely, Steven Cawiezell steven@thetradersplan.com Dislosure You are responsible for your own trading decisions. ALWAYS, do your own research before investing in any of the above securities. This is not a solicitation to buy/sell ETFs or securities. NEVER invest money in ETFs or stocks that you can't afford to lose. You can lose all of your capital by trading any securities mentioned. These ETFs/securities are very volatile and gain and lose value quickly. We reserve the right to freely trade in any mentioned ETFs or securities. We are not compensated by any mentioned companies. We recommend ETFs and securities based on our opinion of intrinsic/possible future value only. We are not registered investment advisors, so always do you own research before buying any recommended securities. 125 Dawn Circle Russellville AR 72802 USA [Unsubscribe]( | [Change Subscriber Options](