The Greedy Trader Weekly Analysis
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Monthly Pattern:Symmetric Triangle
Number of records: 6
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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 :Price is near the Fibonacci 23.6% retracement level
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the CIGNA Corp. (CI). During the week, the CI gained 6.99 points, or 4.09%, and closed at 177.81 on Friday, June 08, 2018. It was the best weekly gain since January 5, 2018. CI was trading at average weekly trading volume.

Long-term trend: [See CI long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 8.00 and reached 227.13 on January 29, 2018. CI gained -219.13 points, or -2739.12%, in 479 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 136.53 and resistance is at 237.45. 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 downtrend had started on January 29, 2018 at 227.13 and reached 163.02 on March 13, 2018. CI lost 64.11 points, or 28.23%, in 6 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance 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 low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 March 13, 2018 at 163.02 and reached 179.99 on May 17, 2018. CI gained -16.97 points, or -10.41%, in 65 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 169.46 and resistance is at 181.85. 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 short-term trend.

Daily Technical Indicators: [See CI daily technical indicators chart]
Daily technical indicators are neutral. 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 link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 49.32
Williams' Percentage Range (W%R) 27.00
Lane's Stochastic (%D-Slow) 60.03
Greed/Fear Indicator (GFI) 60.78
Moving Average Converg./Diverg. (MACD) 0.13
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.51
Williams' Percentage Range (W%R) 78.10
Lane's Stochastic (%D-Slow) 63.14
Greed/Fear Indicator (GFI) 46.92
Moving Average Converg./Diverg. (MACD) -4.11
Trading Signals
Description Value Chart
Weekly Trendline Resistance 181.85
Upper Bollinger Band 179.81
Price 177.81
Weekly Stochastic Crossing 176.11
Daily Stochastic Crossing 175.35
20 Day Moving Average 175.14
50 Day Moving Average 172.57
Weekly Trendline Support 169.46
Parabolic System 169.30
Lower Bollinger Band 168.55
Sector and Industry
Description Name Rank
Sector Healthcare 7
Industry Health Care Plans 124
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 179.99
High Date 05/17/2018
Low 169.11
Low Date 05/31/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 181.85
Support 169.46
Low 163.02
Low Date 03/13/2018
High 179.99
High Date 05/17/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 227.13
High Date 01/29/2018
Low 163.02
Low Date 03/13/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 115.03
Low Date 11/01/2016
High 227.13
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 237.45
Support 136.53
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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