The Greedy Trader Weekly Analysis
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Monthly Pattern:Symmetric Triangle
Number of records: 2
Symbol:  

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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.
A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart pattern appears in a mature trend characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Symmetric Triangle Pattern,Symmetric Triangle Chart Pattern,Chart Pattern Analysis,chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
CIGNA Corp.
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Summary:
Weekly :Broken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageRelative Strength Index and Williams' Percentage Range are oversoldStochastic signal line moved above oversold areaThe period of high volatility of the stock price
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It was a first positive week for the CIGNA Corp. (CI). During the week, the CI climbed 0.04 points, or 0.02%, and closed at 193.81 on Friday, February 16, 2018. Weekly volume was -23% below average.

Long-term trend: [See CI long-term trend chart]
A long-term uptrend had started on November 1, 2016 at 115.03 and reached 227.13 on January 29, 2018. CI gained -112.10 points, or -97.45%, in 64 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (214.47) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CI may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See CI medium-term trend chart]
A medium-term downtrend had started on January 29, 2018 at 227.13 and reached 187.14 on February 9, 2018. CI lost 39.99 points, or 17.61%, in 1 weeks. The price is now at the 16.68% retracement level.

Weekly Technical Indicators: [See CI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 2, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 February 15, 2018 at 197.31 and reached 191.37 on February 16, 2018. CI lost 5.94 points, or 3.01%, in 1 days. The price is now at the 41.08% retracement level.

Daily Technical Indicators: [See CI daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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, Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since January 29, 2018. This is an indication that the short-term trend is down.

The distance between the Bollinger Bands is 279.87% higher then one year average. It indicates the period of high volatility of the stock price. 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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 19.96
Oversold
Williams' Percentage Range (W%R) 87.90
Oversold
Lane's Stochastic (%D-Slow) 34.71
Greed/Fear Indicator (GFI) 22.24
Moving Average Converg./Diverg. (MACD) -3.63
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.20
Williams' Percentage Range (W%R) 77.50
Lane's Stochastic (%D-Slow) 51.75
Greed/Fear Indicator (GFI) 40.73
Moving Average Converg./Diverg. (MACD) 9.83
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 226.42
Upper Bollinger Band 225.95
Quarterly Trendline Support 214.47
50 Day Moving Average 206.93
20 Day Moving Average 205.10
Weekly Stochastic Crossing 203.45
Parabolic System 197.66
Price 193.81
Daily Stochastic Crossing 191.45
Lower Bollinger Band 176.67
Sector and Industry
Description Name Rank
Sector Healthcare 6
Industry Health Care Plans 89
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 197.31
High Date 02/15/2018
Low 191.37
Low Date 02/16/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 197.31
High Date 02/15/2018
Low 191.37
Low Date 02/16/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 227.13
High Date 01/29/2018
Low 187.14
Low Date 02/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 226.42
Support 214.47
Low 115.03
Low Date 11/01/2016
High 227.13
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.00
Low Date 11/21/2008
High 227.13
High Date 01/29/2018
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.

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