Hartford is Hot (HIG)

by | May 30, 2024

Where does growth come from?

It comes from obvious places and forgotten places.

Growth comes from suddenly-demanded AI chips and a disruptive new trend/fad. That one we hear about all the time.

But growth also comes from boring companies that everyone needs forever.

And every now and then, boring becomes hot.

And we’re seeing that in Hartford Financial (HIG).

Here’s the chart:

It made a fantastic move from last October through April.

And then it pulled back slightly as the market cooled off. 

But a break above $103.64 could lead to another big surge.

Nothing boring about that.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.


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