HIG gearing up to new highs. Potentially a good long term hold. Financial services do well in periods of high interest rates. Insurance companies invest premiums into fixed income securities to drive income, which is very important for their profitability. Expect the improvement in the interest rates to increase the yields. Premiums and fees income is likely to grow with the recovery in the economy.
TA points ● Multiple touches of the 200 day EMA prior to strong uptrend
Target Fibonacci extension levels from this new top are:
F1 0.618: T1 80.4 F2 1.612: T2 88.6 F3 2.618: T3 96.9 F4 3.618: T4 105