Hannover Re: Annual forecast unchanged despite major losses!
Use setbacks at reinsurers now for long entry? Hannover Re (HNR1) can achieve higher premiums!
Symbol: HNR1 IS IN: DE0008402215
Trend analysis based on 6 months: The shares of the reinsurer from the Lower Saxony state capital convinced in the half-year comparison with a price increase of 35 percent and remained well above the 20 EMA. From the pivot and annual high of last Tuesday, there was a pullback to the green line, which was just undershot on Friday. Monday’s inside candle promises dynamic following days.
Chart from December 15, 2022 – basis daily, 6 months – price: EUR 182.95
My expert opinion on HNR1
Opinion: The increase in sales of 13.8 percent in 2021 and the increase in profit of 39.48 percent are evidence of a pleasing business development. The 2021 dividend remained constant compared to the previous year at EUR 4.50. The insurance industry is considered to be crisis-resistant, as it is quite successful in assessing the risks and charging higher premiums where dangers are recognizable. Despite a series of major loss events such as Hurricane Ian, Hannover Re is sticking to its forecast for the year as a whole.
To install
Possible setup: We build our long setup with the trigger above the last, the stop loss below the somewhat expected daily candle from St. Nicholas Day and aim for the aforementioned pivot and annual high of the previous week as a price target. There are more details about this setup in the Alphatrader chat from ratgeberGELD.at.
View: BULLISH
Author: Thomas Canali does not own any positions in HNR1.
Release date: 12/19/2022
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Analysis prepared on behalf of