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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
Archive
- 11/30/2018
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CIGNA Corp.
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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtBearish Deliberation CandlestickDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price touches the upper Bollinger Band
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It was a first positive week for the CIGNA Corp. (CI). During the week, the CI gained 12.22 points, or 5.79%, and closed at 223.38 on Friday, November 30, 2018. CI was trading at average weekly trading volume.

CI is a member of Healthcare Sector. Healthcare 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 November 21, 2008 at 8.00 and reached 227.13 on January 29, 2018. CI gained -219.13 points, or -2739.12%, in 479 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 143.09 and resistance is at 245.57. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See CI medium-term trend chart]
A medium-term downtrend had started on January 29, 2018 at 227.13 and reached 163.02 on March 13, 2018. CI lost 64.11 points, or 28.23%, in 6 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (165.34) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CI may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See CI weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 6, 2018. 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 June 28, 2018 at 163.97 and reached 223.96 on November 30, 2018. CI gained -59.99 points, or -36.59%, in 155 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 206.47 and resistance is at 233.82. 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 short-term trend.

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

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 touches the upper Bollinger Band. 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.

Candlestick pattern: [See CI candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.16
Williams' Percentage Range (W%R) 4.60
Strong Overbought
Lane's Stochastic (%D-Slow) 90.11
Strong Overbought
Greed/Fear Indicator (GFI) 81.89
Overbought
Moving Average Converg./Diverg. (MACD) 1.85
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.27
Williams' Percentage Range (W%R) 1.40
Strong Overbought
Lane's Stochastic (%D-Slow) 76.90
Greed/Fear Indicator (GFI) 79.41
Moving Average Converg./Diverg. (MACD) 7.16
Trading Signals
Description Value Chart
Yearly Trendline Resistance 245.57
Weekly Trendline Resistance 233.82
Upper Bollinger Band 223.88
Price 223.38
Daily Stochastic Crossing 222.67
Weekly Stochastic Crossing 218.45
20 Day Moving Average 215.56
50 Day Moving Average 211.65
Parabolic System 208.63
Lower Bollinger Band 206.62
Weekly Trendline Support 206.47
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Health Care Plans 137
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 207.19
Low Date 11/23/2018
High 223.96
High Date 11/30/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 233.82
Support 206.47
Low 163.97
Low Date 06/28/2018
High 223.96
High Date 11/30/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 163.02
Low Date 03/13/2018
High 223.96
High Date 11/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 122.88
Support 165.34
High 227.13
High Date 01/29/2018
Low 163.02
Low Date 03/13/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 245.57
Support 143.09
Low 8.00
Low Date 11/21/2008
High 227.13
High Date 01/29/2018
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.

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