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|It was the negative week for the CIGNA Corp. (CI). During the week, the CI dropped -5.97 points, or -3.15%, and closed at 183.28 on Friday, August 10, 2018. It was the worst weekly loss since March 9, 2018. Weekly volume was 110% 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 138.89 and resistance is at 241.56. 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 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 Falling Pennant chart pattern. The uptrend resistance line (171.50) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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.
The weekly MACD line is above its signal line since July 6, 2018. 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 June 28, 2018 at 163.97 and reached 193.37 on August 3, 2018. CI gained -29.40 points, or -17.93%, in 36 days. The chart has formed a Broadening Ascending Wedge chart pattern.
Daily Technical Indicators: [See CI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 9, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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.