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Daily MACD Divergence:Bullish
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Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.

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- 5/31/2024 -
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CIGNA Corp. (CI) Technical Analysis

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Summary:
Weekly :Oversold sector
Daily :Williams' Percentage Range is oversoldStochastic has raised above the signal lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe 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 gained 12.01 points, or 3.61%, and closed at 344.62 on Friday, May 31, 2024. It was the best weekly gain since February 2, 2024. Weekly volume was 89% above average.

CI is a member of Health Care Sector. Health Care is the second most oversold 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 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 trend support level is at 175.43 and resistance is at 365.22. 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 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 291.63 and resistance is at 401.48. 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 technical indicators are neutral.

The weekly MACD line is below its signal line since May 3, 2024. 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 May 10, 2024 at 352.02 and reached 329.31 on May 29, 2024. CI lost 22.71 points, or 6.45%, in 19 days. The chart has formed a Falling Wedge chart pattern.

Daily Technical Indicators: [See CI daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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. 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.

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.

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) 45.58
Williams' Percentage Range (W%R) 83.80
Oversold
Lane's Stochastic (%D-Slow) 32.45
Greed/Fear Indicator (GFI) 31.40
Moving Average Converg./Diverg. (MACD) -3.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.27
Williams' Percentage Range (W%R) 44.10
Lane's Stochastic (%D-Slow) 33.22
Greed/Fear Indicator (GFI) 46.97
Moving Average Converg./Diverg. (MACD) 14.41
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 401.48
Monthly Trendline Resistance 385.86
Yearly Trendline Resistance 365.22
Upper Bollinger Band 352.91
50 Day Moving Average 349.41
Price 344.62
20 Day Moving Average 340.63
Weekly Stochastic Crossing 338.03
Daily Stochastic Crossing 335.24
Parabolic System 328.98
Lower Bollinger Band 328.33
Quarterly Trendline Support 291.63
Sector and Industry
Description Name Rank
Sector Health Care 2
Industry Managed Health Care 63
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
High 352.02
High Date 05/10/2024
Low 329.31
Low Date 05/29/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 365.71
High Date 03/28/2024
Low 329.31
Low Date 05/29/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 385.86
Support 265.89
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 401.48
Support 291.63
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 Valid
Resistance 365.22
Support 175.43
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.