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Daily RSI Divergence:Bullish
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 2/16/2024 -
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CIGNA Corp. (CI) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought
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It was a third positive week after 3 consecutive negative weeks for the CIGNA Corp. (CI). During the week, the CI gained 6.16 points, or 1.84%, and closed at 341.09 on Friday, February 16, 2024. Weekly volume was -31% below average.

CI is a member of Health Care Sector. Health Care 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 342.74 on February 16, 2024. CI gained -334.74 points, or -4184.25%, in 795 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 244.60 and resistance is at 366.25. 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 December 8, 2023 at 253.95 and reached 342.74 on February 16, 2024. CI gained -88.79 points, or -34.96%, in 10 weeks. Price is near the trend high.

Weekly Technical Indicators: [See CI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought 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 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 January 25, 2024 at 291.44 and reached 342.74 on February 16, 2024. CI gained -51.30 points, or -17.60%, in 22 days. Price is near the trend high.

Daily Technical Indicators: [See CI daily technical indicators chart]
Daily Relative Strength Index, 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since February 1, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 94.57
Strong Overbought
Williams' Percentage Range (W%R) 5.00
Strong Overbought
Lane's Stochastic (%D-Slow) 90.64
Strong Overbought
Greed/Fear Indicator (GFI) 93.41
Strong Overbought
Moving Average Converg./Diverg. (MACD) 8.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.07
Williams' Percentage Range (W%R) 2.90
Strong Overbought
Lane's Stochastic (%D-Slow) 87.44
Overbought
Greed/Fear Indicator (GFI) 82.42
Overbought
Moving Average Converg./Diverg. (MACD) 5.37
Trading Signals
Description Value Chart
Yearly Trendline Resistance 366.25
Upper Bollinger Band 356.22
Daily Stochastic Crossing 341.16
Price 341.09
Weekly Stochastic Crossing 336.49
Parabolic System 328.70
20 Day Moving Average 319.02
50 Day Moving Average 306.44
Lower Bollinger Band 290.66
Sector and Industry
Description Name Rank
Sector Health Care 9
Industry Managed Health Care 34
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 291.44
Low Date 01/25/2024
High 342.74
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 291.44
Low Date 01/25/2024
High 342.74
High Date 02/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 253.95
Low Date 12/08/2023
High 342.74
High Date 02/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 240.50
Low Date 05/30/2023
High 342.74
High Date 02/16/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 366.25
Support 244.60
Low 8.00
Low Date 11/21/2008
High 342.74
High Date 02/16/2024
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.