RY 156.04 -0.032% TD 79.81 -0.4615% SHOP 99.81 0.9303% CNR 158.79 0.6401% ENB 53.84 0.4478% CP 111.87 0.8019% BMO 112.71 0.7419% TRI 225.62 0.396% CNQ 50.46 2.4777% BN 67.8 1.194% ATD 76.93 -1.0674% CSU 4321.5298 0.3257% BNS 67.27 1.3102% CM 78.76 1.5603% SU 54.66 -1.1037% TRP 62.42 1.2162% NGT 70.54 0.2558% WCN 251.32 0.3153% MFC 36.65 -0.0818% BCE 47.21 0.3187%
Company Overview: Root Inc. (NASDAQ: ROOT) is at the forefront of innovation in the insurance industry, specializing in direct-to-consumer personal automobile insurance, renters insurance, and mobile technology solutions. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.
US Markets Round-Up
This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started positively, and it traded with a positive bias throughout the week. The index made high of 3111.22 during the week and settled at 3108.98 with a week-to-date (WTD) gain of ~0.37 percent on June 27, 2024. Other major indices, such as S&P 500 and NASDAQ Composite witnessed upside movement for the week. On June 27, 2024, the S&P 500 index settled at ~5482.87 with a WTD gain of ~0.18 percent, while the NASDAQ Composite Index settled at 17858.68 with a WTD gain of ~0.96 percent.
Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one US-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for Root Inc. (NASDAQ: ROOT) for the next 2-4 weeks duration:
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