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The Hartford Financial Services Group, Inc. (HIG) - free report >>
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The Hartford Financial Services Group, Inc. (HIG) - free report >>
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The Hartford (HIG) Crossed Above the 200-Day Moving Average: What That Means for Investors
After reaching an important support level, The Hartford (HIG - Free Report) could be a good stock pick from a technical perspective. HIG surpassed resistance at the 200-day moving average, suggesting a long-term bullish trend.
The 200-day simple moving average is widely-used by traders and analysts, and helps establish market trends for stocks, commodities, indexes, and other financial instruments over the long term. The indicator moves higher or lower together with longer-term price moves, serving as a support or resistance level.
HIG could be on the verge of another rally after moving 9.8% higher over the last four weeks. Plus, the company is currently a Zacks Rank #2 (Buy) stock.
The bullish case solidifies once investors consider HIG's positive earnings estimate revisions. No estimate has gone lower in the past two months for the current fiscal year, compared to 5 higher, while the consensus estimate has increased too.
Given this move in earnings estimate revisions and the positive technical factor, investors may want to keep their eye on HIG for more gains in the near future.