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Advanced TA SearchArchive
- 7/19/2024 -
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CIGNA Corp. (CI) Technical Analysis
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| Summary:
| | | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the CIGNA Corp. (CI). During the week, the CI climbed 1.05 points, or 0.31%, and closed at 335.84 on Friday, July 19, 2024. Weekly volume was -25% 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 trend support level is at 176.80 and resistance is at 368.08. 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 297.14 and resistance is at 406.99. 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. The distance between MACD and the signal line is relatively high, but getting smaller. 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 March 28, 2024 at 365.71 and reached 316.55 on July 5, 2024. CI lost 49.16 points, or 13.44%, in 99 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (311.63) 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 short-term trend.
 Daily Technical Indicators: [See CI daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since July 10, 2024.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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