Approaching Support- Hartford Financial

Published on Friday, 27 August 2010 07:24 Written by Christopher Lynn

New York, August 27th (TradersHuddle.com) - Shares of Hartford Financial Services Group, Inc. (NYSE:HIG) are trading very close to calculated support at $18.86 with current price action closing at just $19.09 places the stock price near levels where traders will start paying attention.

The Hartford Financial Services Group, Inc. (NYSE:HIG) provides property and casualty insurance, annuities, life insurance, investment services, and group insurance. The Conneticutt based insurer operates around the world.

Hartford Financial's current stock range is defined by current calculated support defined at $18.86 and by the resistance level at $21.29, which should be used by traders planning their trades.

Traders wanting to establish a position should place close attention to Hartford Financial's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $21.29 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.