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Possible Bullish Inside Day Candle Pattern Detected for Hartford Financial Services (NYSE:HIG)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Hartford Financial Services (NYSE:HIG) based on the price action in the company's shares. Today's price range of $48.53 and $48.77 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Hartford Financial Services may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

The Hartford Financial Services Group, Inc. provides a range of insurance products. The Company's products include property and casualty insurance, annuities, life insurance, investment services, and group insurance. Hartford Financial operates around the world.

Potential upside of 8.0% exists for Hartford Financial Services, based on a current level of $48.74 and analysts' average consensus price target of $52.67. Hartford Financial Services shares have support at the 50-day moving average (MA) of $44.95 and additional support at the 200-day MA of $44.78.

In the past 52 weeks, shares of Hartford Financial Services have traded between a low of $36.54 and a high of $50.95 and are now at $48.74, which is 33% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has remained constant.

SmarTrend recommended that subscribers consider buying shares of Hartford Financial Services on November 9th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.36. Since that recommendation, shares of Hartford Financial Services have risen 6.8%. We continue to monitor HIG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Hartford Financial Services

Ticker(s): HIG