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Watch for Shares of Hartford Financial Services (HIG) to Approach Resistance at $23.88

Published on Wed, 02/27/2013 - 13:41
By Adrienne Chilton

Hartford Financial Services (NYSE:HIG) has opened bullishly above the pivot of $23.13 today and has reached the first level of resistance at $23.61. Analysts will be watching for a cross of the next upside pivot targets of $23.88 and $24.63.

Hartford Financial Services share prices have moved between a 52-week high of $25.37 and a 52-week low of $15.65 and are now trading 51% above that low price at $23.66 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.3%.

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.

Hartford Financial Services (NYSE:HIG) has potential upside of 18.4% based on a current price of $23.66 and analysts' consensus price target of $28.00. The stock should find resistance at its 50-day moving average (MA) of $23.79, as well as support at its 200-day MA of $20.06.

By Adrienne Chilton