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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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- 7/5/2024 -
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CIGNA Corp. (CI) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is oversold
Daily :The price is below the lower Bollinger BandBroken trend support line - Downtrend exhaustionLane's Stochastic is oversold
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It was the negative week for the CIGNA Corp. (CI). During the week, the CI dropped -11.45 points, or -3.46%, and closed at 319.12 on Friday, July 5, 2024. It was the worst weekly loss since May 3, 2024. Weekly volume was -30% 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 176.38 and resistance is at 367.22. 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 295.47 and resistance is at 405.32. 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 is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 weekly MACD line is below its signal line since May 3, 2024. The distance between MACD and the signal line is relatively high and getting bigger. 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 Wedge chart pattern. The downtrend support line (321.37) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 support in a short-term trend.

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.

The daily MACD line is below its signal line since June 27, 2024. This is an indication that the short-term trend is down.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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) 28.36
Williams' Percentage Range (W%R) 72.90
Lane's Stochastic (%D-Slow) 9.43
Strong Oversold
Greed/Fear Indicator (GFI) 21.64
Moving Average Converg./Diverg. (MACD) -2.48
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.92
Williams' Percentage Range (W%R) 83.80
Oversold
Lane's Stochastic (%D-Slow) 20.60
Greed/Fear Indicator (GFI) 24.67
Moving Average Converg./Diverg. (MACD) 10.36
Trading Signals
Description Value Chart
Yearly Trendline Resistance 367.22
Upper Bollinger Band 344.59
50 Day Moving Average 339.71
Weekly Trendline Resistance 334.63
Parabolic System 334.49
20 Day Moving Average 334.18
Weekly Stochastic Crossing 323.61
Weekly Trendline Support 321.37
Lower Bollinger Band 321.33
Price 319.12
Daily Stochastic Crossing 318.92
Quarterly Trendline Support 295.47
Monthly Trendline Support 268.20
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Managed Health Care 53
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 344.73
High Date 06/03/2024
Low 316.55
Low Date 07/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Support
Resistance 334.63
Support 321.37
High 365.71
High Date 03/28/2024
Low 316.55
Low Date 07/05/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 396.39
Support 268.20
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 405.32
Support 295.47
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 367.22
Support 176.38
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.