The significant $1.5 million insider purchase recorded on the 14th of August this year in Donegal Group (DGICA) made us take notice of this stock. Furthermore, this purchase was then followed up by a further smaller purchase by Director Jack lee late last week. The long-term chart explains the insiders' bullishness to an extent. Shares at present seem to be undergoing a bullish symmetrical continuation pattern. We have bullish signals also on the long-term MACD indicator as well as bullish divergences on the RSI momentum indicator.
The insurance holding company which announced