Bearish MACD for Platinum Underwriters – Tale of the Tape (PTP)

Platinum Underwriters Holdings, Ltd.’s (PTP) MACD indicator has entered into bearish territory with a reading of -0.4408. The Zacks #5 Rank (“Strong Sell”) stock decreased more than 2% to $27.77 in morning trade. The Zacks Consensus Estimate for the year ending December 2011 has worsened by $2.76 over the past two week to a loss of $5.09 per share.