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Bearish Moving Average Cross by CIGNA (CI)

By James Quinn

CIGNA (NYSE:CI) shares have crossed bearishly below their 10-day moving average of $128.59 on a volume of 212K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of CIGNA have traded between a low of $123.54 and a high of $170.68 and are now at $127.68, which is 3% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of CIGNA on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $133.02. Since that call, shares of CIGNA have fallen 3.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses CIGNA

Ticker(s): CI