Technical Setup: HARTFORD INSURANCE GROUP INC (NYSE:HIG) Appears Poised for a Breakout.

HARTFORD INSURANCE GROUP INC (NYSE:HIG) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:HIG.

Zooming in on the technicals.

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

We assign a technical rating of 9 out of 10 to HIG. Both in the recent history as in the last year, HIG has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that HIG is one of the better performing stocks in the market, outperforming 90% of all stocks. We also observe that the gains produced by HIG over the past year are nicely spread over this period.
• HIG is part of the Insurance industry. There are 143 other stocks in this industry. HIG outperforms 81% of them.
• HIG is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so HIG slightly outperforms the market at the moment.
• In the last month HIG has a been trading in the 107.48 - 125.08 range, which is quite wide. It is currently trading near the high of this range.

Our latest full technical report of HIG contains the most current technical analsysis.

Looking at the Setup

Alongside the Technical Rating, ChartMill assigns a Setup Rating to evaluate the consolidation level of a stock. This rating, ranging from 0 to 10, is updated daily and considers various short-term technical indicators. The current setup rating for HIG is 7:

HIG has an excellent technical rating, but the quality of the setup is only medium at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

Trading breakout setups.

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.