- 7/31/2020 -
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CIGNA Corp. (CI)
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|It was the negative week for the CIGNA Corp. (CI). During the week, the CI dropped -8.33 points, or -4.60%, and closed at 172.69 on Friday, July 31, 2020. Weekly volume was -45% below average. |
CI is a member of Health Care Sector. Health Care is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
Long-term trend: [See CI long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 118.50 and reached 217.30 on June 9, 2020. CI gained -98.80 points, or -83.38%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (254.85) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.
Medium-term trend: [See CI medium-term trend chart]
A medium-term downtrend had started on June 9, 2020 at 217.30 and reached 170.79 on July 10, 2020. CI lost 46.51 points, or 21.40%, in 4 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (155.38) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
Weekly Technical Indicators: [See CI weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since July 2, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See CI short-term trend chart]
A short-term downtrend had started on July 15, 2020 at 184.72 and reached 171.01 on July 31, 2020. CI lost 13.71 points, or 7.42%, in 16 days. The price is now at the 12.25% retracement level.
Daily Technical Indicators: [See CI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 22, 2020. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands is falling, and it was 8.38% on Friday. It is 53.09% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.