CIGNA Corp. (CI)
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|It was the negative week for the CIGNA Corp. (CI). During the week, the CI dropped -11.03 points, or -4.32%, and closed at 244.10 on Friday, May 26, 2023. It was the worst weekly loss since March 10, 2023. Weekly volume was -38% below average. |
CI is a member of Health Care Sector. Health Care is the second 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 340.11 on December 13, 2022. CI gained -332.11 points, or -4151.38%, in 733 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 164.90 and resistance is at 343.23. 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 340.11 on December 13, 2022. CI gained -221.61 points, or -187.01%, in 142 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (253.48) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.
Weekly Technical Indicators: [See CI weekly technical indicators chart]
Weekly Relative Strength Index is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index or strongly oversold weekly 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 links to access Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since December 30, 2022. 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 9, 2023 at 269.36 and reached 242.90 on May 26, 2023. CI lost 26.46 points, or 9.82%, in 17 days. Price is near the trend low.
Daily Technical Indicators: [See CI daily technical indicators chart]
Daily Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.