THE CIGNA GROUP (NYSE:CI) showing some interesting technicals. Here's why.

THE CIGNA GROUP (NYSE:CI) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:CI.

Technical analysis of NYSE:CI

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

We assign a technical rating of 7 out of 10 to CI. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CI is only an average performer.

• The long and short term trends are both positive. This is looking good!
• CI is part of the Health Care Providers & Services industry. There are 115 other stocks in this industry. CI outperforms 75% of them.
• In the last month CI has a been trading in the 274.90 - 292.48 range, which is quite wide. It is currently trading near the high of this range.
• When compared to the yearly performance of all other stocks, CI outperforms 63% of them, which is more or less in line with the market.
• CI is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so CI is lagging the market slightly.

For an up to date full technical analysis you can check the technical report of CI

Why is NYSE:CI a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:CI scores a 9 out of 10:

CI has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 290.37. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 286.07, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.

Trading setups like NYSE:CI

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.