W R Berkley Corp

WRB has registered a bullish pivot point signaling structural repair and upward mean reversion bias after a prolonged downtrend. Medium-term directional bias is bullish, but short-term timing is neutral as price is extended above the EMAs. Await a pullback and acceptance into the 9/20 EMA zone and the prior pivot support before initiating. Resistance at the 200-day SMA and the pivot high zone may cap further upside.

• ↑Q2 EPS $1.27 beat $1.08 estimate; revenue $3.72 B (+2.4% YoY).
• ↑Intrinsic model flags 42.6% undervaluation; book-to-price at 0.595.
• ↓Negative earnings yield raises concerns over return generation.