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 :Overbought sectorLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageMACD bullish divergenceTrend support at 208.03The price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the CIGNA Corp. (CI). During the week, the CI dropped -17.27 points, or -7.73%, and closed at 206.11 on Friday, December 07, 2018. Weekly volume was 20% above average.

CI is a member of Healthcare Sector. Healthcare 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 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 143.30 and resistance is at 245.92. 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. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (165.39) is broken. A broken support is considered to be a long-term bullish signal. 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 medium-term trend.

Weekly Technical Indicators: [See CI weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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.

The weekly MACD line is above its signal line since July 6, 2018. The distance between MACD and the signal line is low and getting smaller. 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 June 28, 2018 at 163.97 and reached 226.61 on December 3, 2018. CI gained -62.64 points, or -38.20%, in 158 days. The chart has formed a Rising Channel chart pattern. The price is near the trend support (208.03) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line 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 main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence.

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

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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 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) 42.16
Williams' Percentage Range (W%R) 59.20
Lane's Stochastic (%D-Slow) 57.78
Greed/Fear Indicator (GFI) 46.92
Moving Average Converg./Diverg. (MACD) 2.05 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.96
Williams' Percentage Range (W%R) 23.60
Lane's Stochastic (%D-Slow) 73.14
Bearish
Greed/Fear Indicator (GFI) 68.48
Moving Average Converg./Diverg. (MACD) 7.52 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 245.92
Weekly Trendline Resistance 235.38
Parabolic System 225.93
Upper Bollinger Band 225.43
Weekly Stochastic Crossing 219.15
20 Day Moving Average 215.56
Daily Stochastic Crossing 215.01
50 Day Moving Average 212.72
Weekly Trendline Support 208.03
Price 206.11
Lower Bollinger Band 204.94
Quarterly Trendline Support 165.39
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Health Care Plans 119
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 207.19
Low Date 11/23/2018
High 226.61
High Date 12/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 235.38
Support 208.03
Low 163.97
Low Date 06/28/2018
High 226.61
High Date 12/03/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 163.02
Low Date 03/13/2018
High 226.61
High Date 12/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 120.92
Support 165.39
High 227.13
High Date 01/29/2018
Low 163.02
Low Date 03/13/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 245.92
Support 143.30
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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