Kinsale Capital (KNSL) has been in correction mode since the earnings-driven sell-off in October. The charts suggest that this may be over now and that the property and casualty insurer’s stock may be ready to resume its uptrend. The stock has since settled above key support near $335, which is identified by previous resistance dating back to 2022 and a weekly bullish cloud pattern (shaded area on the chart). With the price above the bullish cloud, this indicates that the long-term uptrend is intact. There are signs that the corrective phase has ripened for the resumption of the long-term uptrend. KNSL has an oversold rally on its weekly stochastic, which is a fairly rare signal, considering that it has only happened four times since the stock’s IPO in 2016. We found that each event provided a favorable entry point lasting several months, at a minimum. KNSL managed to break above initial resistance from the 50-day (10-week) moving average (“MA”) late last week. The breakout is associated with a positive shift in short-term momentum, supporting a near-term bullish follow-through and indicating the potential for a minor resistance near $376 to be overcome. Above $376, there are only minor resistance levels for KNSL below the final resistance near $458. Interested in more ideas from Katie? Access research from Fairlead Strategies for free here. Disclosures: (None) The above content is subject to our Terms and Conditions and Privacy Policy. This content is provided for informational purposes only and does not constitute financial, investment, tax or legal advice or a recommendation to purchase any securities or other financial assets. The Content is general in nature and does not reflect any individual’s unique personal circumstances. The above content may not be appropriate for your particular circumstances. Before making any financial decisions, you should strongly consider seeking advice from your financial or investment advisor. 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