Technical Analysis

Technical Analysis of HIG Stock

Current Price and Momentum:

As of the latest data, HIG is trading at 117.8. The stock has shown positive momentum, with a +0.95% change in the regular market and a +0.61% in pre-market trading.

Technical Indicators:

• RSI (14-period): 59.86, indicating the stock is in a neutral zone, not overbought or oversold.
• MACD: Positive at 1.52 with a signal line of 0.30, suggesting bullish momentum.
• Stochastic Oscillator: %K at 69.93 and %D at 72.51, entering overbought territory, which may signal a potential pullback.

Fibonacci Levels:

• Pivot Point: 116.11
• First Resistance (R1): 119.56
• First Support (S1): 112.67

Price Targets:

• If HIG breaks above 119.56, it could move towards 121.68.
• A break below 112.67 may lead to a decline to 110.54.

News and Analyst Sentiment:

• The insurance sector, including HIG, is outperforming the broader market, with the KBW Insurance index up nearly 10% year-to-date.
• Analysts have a Moderate Buy consensus with an average price target of 130.62. Some analysts, like David Motemaden, have a Hold rating with a target of 123.00.

Recent Financial Performance:

• HIG reported strong quarterly results with revenue of 6.92 billion and a net profit of 853 million, showing growth from the previous year.

Conclusion:

HIG is in a bullish trend with strong sector performance and positive momentum. The stock is near its first resistance level.

Recommendation: Buy HIG at the current price of 117.8 with a target of 123.00 and a stop-loss below 112.67.

Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Always consult a financial advisor before making investment decisions.