This article is for education purposes only, and not to be taken as advice to buy/sell. Please do your own due diligence before committing to any trade/investment.

Are you adequately insured?

According to a recent article by Today, most young adults in Singapore are underinsured.

Among the reasons are the challenge of understanding so many products before filtering for suitable ones, and the priorities the young have.

No, I’m not selling insurance.

Instead, I’d like to introduce you to the stock of this insurance and financial services company – Hartford Financial Services.

Brief History of Hartford Financial Services

Source: thehartford.com

Hartford Financial Services was founded in 1810.

The company faced multiple setbacks in its early days, but managed to overcome them.

With great determination and grit, Hartford Financial Services expanded its offerings to become the insurance and financial services giant it is today.

Is the company growing stronger financially?

Let’s find out in the next section.

Business Model and Financials

Source: tradingview.com

In the highly competitive insurance industry, has Hartford Financial Services been experiencing growth in its total revenue and net income?

Let’s examine the blue bars to see whether the company has been growing its total revenue.

Its total revenue has been growing year-on-year, with the exception of 2020 and 2022 when its growth was flat.

Next, let’s look at the bars in purple to know whether its net income has been growing.

Similarly, its net income has been growing year-on-year, with the same exception of 2020 and 2022. Net income fell considerably in both years but quickly picked up.

On this front, Hartford Financial Services is doing well.

Can the same be said of its share price?

Do market participants share the same view?

And what about the most important question – Should you be buying its shares for a position trade now?

Technical Analysis on Hartford Financial Services (NYSE: HIG)

Here, I’ll share my take on the shares of Hartford Financial Services and conclude whether they are worth your time and money.

To decide whether to buy the shares of Hartford Financial Services for a position trade, you need to identify the trend of its share price.

Can you tell that the share price of Hartford Financial Services is in an uptrend?

Here’s a tip: When you see more blue candles (solid and outlined), the share price of the stock is in an uptrend.

Knowing that its share price is in an uptrend, you’ll want to be on the hunt for a buying opportunity.

Please turn your attention to the 2 main technical indicators, the green arrow and the Trend Impulse Factor, that will help you make your decision.

When you are hunting for a buying opportunity, you’ll want to look for a green arrow under the latest candle. The presence of a green arrow signals the start of a new bullish leg, which you’ll want to catch.

What’s the role of the Trend Impulse Factor?

The Trend Impulse Factor detects the presence of momentum. When its bar is dark green, sustained momentum is detected, increasing your chance of success if you take action.

Looking at the chart of Hartford Financial Services’ share price once more, do you see both indicators present?

The time to buy its shares for a position trade is ripe!

Conclusion

Source: unsplash.com

Hartford Financial Services is more than 200 years old. It has gone through trials and managed to emerge triumphant always.

It’s also financially healthy, which is another plus point.

Moreover, market participants are optimistic. Its share price has been soaring, and the opportunity to buy its shares for a position trade is ripe (suggested by our proprietary indicators)!

Both the arrow and Trend Impulse Factor indicators have been tested and proven. They form the TradersGPS (TGPS) system to help you decipher if a stock is ripe for a position trade. You won't have to feel in the dark and make wild guesses.

What are your thoughts?

Share your thoughts with me below!