Are the Bears Taking Control over Hartford Financial?

New York, October 10th (TradersHuddle.com) - Shares of Hartford Financial Services Group, Inc. (NYSE:HIG) ended the trading session lower by $0.19 or -0.87% from its previous close. Hartford Financial's price action formed what is considered to be a bearish engulfing candlestick chart pattern.

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 determined by calculated support defined at $18.57 and by the resistance level at $21.68, which should be used by traders planning their next move.

If traders want to establish a position in Hartford Financial, they need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal in the current price action. The Bearish engulfing pattern is a leading warning sign; therefore, traders should closely monitor Hartford Financial for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration:

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