Safety Insurance Group, Inc. (NASDAQ:SAFT) shares have moved -2.21% on the week. The stock closed the most recent session at $70.70 after seeing 46871 shares trade hands. This represents a change of -0.42% from the opening.
Stock exchanges work according to the invisible hand of supply and demand, which determines the price where stocks are bought and sold. No trade can occur until someone is willing to sell a stock at a price that another is willing to buy it at. When there are more buyers than sellers, the stock price will rise because of the increased demand. Conversely, if more individuals are selling a stock, the price will decrease.
Let’s take a look at how the stock has been performing recently. Year to date Safety Insurance Group, Inc. (NASDAQ:SAFT) is -4.07%, 6.56% over the last quarter, and -3.28% for the past six months.
Over the past 50 days, Safety Insurance Group, Inc. stock’s -5.73% off of the high and 6.98% removed from the low. Their 52-Week High and Low are noted here. -5.80% (High), 9.00%, (Low).
Technical analysts have little regard for the value of a company. They use historic price data to observe stock price patterns to predict the direction of that price going forward. Analysts use common formulas and ratios to accomplish this. Safety Insurance Group, Inc. (NASDAQ:SAFT)’s RSI (Relative Strength Index) is 50.19. RSI is a technical indicator of price momentum, comparing the size of recent gains to the size of recent losses and establishes oversold and overbought positions.