The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/19/2024 -
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CIGNA Corp. (CI) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtTrend resistance at 362.71
Daily :Lane's Stochastic is oversoldStochastic has raised above the signal lineA Parabolic SAR indicator is below and near the priceBroken trend support lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the CIGNA Corp. (CI). During the week, the CI climbed 2.55 points, or 0.73%, and closed at 352.39 on Friday, April 19, 2024. Weekly volume was -6% below average.

Long-term trend: [See CI long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 8.00 and reached 365.71 on March 28, 2024. CI gained -357.71 points, or -4471.38%, in 800 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (362.71). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See CI medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 118.50 and reached 365.71 on March 28, 2024. CI gained -247.21 points, or -208.62%, in 210 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 286.78 and resistance is at 396.64. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See CI weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 29, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See CI short-term trend chart]
A short-term uptrend had started on December 8, 2023 at 253.95 and reached 365.71 on March 28, 2024. CI gained -111.76 points, or -44.01%, in 111 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (375.26) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CI may retest the broken support line. It is considered to be a resistance line now. 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 short-term trend.

Daily Technical Indicators: [See CI daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since April 3, 2024.

A Parabolic SAR (stop and reversal) indicator (353.15) comes close to the price (352.39). It indicates that the trend is getting weaker. 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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.98
Williams' Percentage Range (W%R) 72.40
Lane's Stochastic (%D-Slow) 15.21
Oversold
Greed/Fear Indicator (GFI) 24.26
Moving Average Converg./Diverg. (MACD) 2.56
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.24
Williams' Percentage Range (W%R) 12.90
Overbought
Lane's Stochastic (%D-Slow) 82.95
Overbought
Greed/Fear Indicator (GFI) 78.69
Moving Average Converg./Diverg. (MACD) 14.69
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 396.64
Weekly Trendline Resistance 380.29
Weekly Trendline Support 375.26
Upper Bollinger Band 364.05
Yearly Trendline Resistance 362.71
Weekly Stochastic Crossing 358.45
20 Day Moving Average 356.09
Parabolic System 353.15
Price 352.39
Daily Stochastic Crossing 348.14
50 Day Moving Average 347.68
Lower Bollinger Band 340.69
Quarterly Trendline Support 286.78
Sector and Industry
Description Name Rank
Sector Health Care 3
Industry Managed Health Care 47
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 365.71
High Date 03/28/2024
Low 345.78
Low Date 04/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 380.29
Support 375.26
Low 253.95
Low Date 12/08/2023
High 365.71
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 240.50
Low Date 05/30/2023
High 365.71
High Date 03/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 396.64
Support 286.78
Low 118.50
Low Date 03/18/2020
High 365.71
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 362.71
Support 174.23
Low 8.00
Low Date 11/21/2008
High 365.71
High Date 03/28/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.