Hartford (HIG) is a big insurance concern and part of the Insurance SPDR (KIE), which is one of the best performing industry group ETFs over the last six months. The stock surged from late August to mid November and continued higher at a slower pace from January to March, hitting a 52-week high in mid March. Notice that the stock established support in the 46-47 area over the last five months and surged off support with an advance the last seven days (and counting). It may seem short-term overbought, but this surge off support shows strong and sustained buying pressure. The indicator window shows MACD turning up and moving into positive territory. This just means the 12-day EMA moved above the 26-day EMA.
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--Arthur Hill CMT
Plan your Trade and Trade your Plan
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