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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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- 3/28/2024 -
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CIGNA Corp. (CI) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are strongly overboughtMACD bearish divergenceTrend resistance at 361.42
Daily :Lane's Stochastic is overboughtRelative Strength Index and Williams' Percentage Range are strongly overbought
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It was a first positive week for the CIGNA Corp. (CI). During the week, the CI gained 11.41 points, or 3.24%, and closed at 363.19 on Thursday, March 28, 2024. Weekly volume was -26% 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 (361.42). 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 284.28 and resistance is at 394.13. 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 strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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.

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 trend support level is at 354.79 and resistance is at 369.61. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a short-term trend.

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

The daily MACD line is above its signal line since March 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.65
Strong Overbought
Williams' Percentage Range (W%R) 5.00
Strong Overbought
Lane's Stochastic (%D-Slow) 86.53
Overbought
Greed/Fear Indicator (GFI) 90.72
Strong Overbought
Moving Average Converg./Diverg. (MACD) 6.81
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.18
Williams' Percentage Range (W%R) 1.60
Strong Overbought
Lane's Stochastic (%D-Slow) 91.49
Strong Overbought
Greed/Fear Indicator (GFI) 85.54
Overbought
Moving Average Converg./Diverg. (MACD) 11.73 Bearish
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 394.13
Weekly Trendline Resistance 369.61
Upper Bollinger Band 367.14
Daily Stochastic Crossing 364.23
Price 363.19
Yearly Trendline Resistance 361.42
Weekly Stochastic Crossing 360.95
Parabolic System 356.24
Weekly Trendline Support 354.79
20 Day Moving Average 348.37
50 Day Moving Average 333.69
Lower Bollinger Band 332.23
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Managed Health Care 21
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 330.71
Low Date 03/01/2024
High 365.71
High Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 369.61
Support 354.79
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 394.13
Support 284.28
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 361.42
Support 173.61
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.