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Possible Bullish Inside Day Candle Pattern Detected for Cigna Corp (NYSE:CI)

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cigna Corp (NYSE:CI) based on the price action in the company's shares. Yesterday's price range of $159.55 and $162.99 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Cigna Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Cigna Corp (NYSE:CI) has potential upside of 33.4% based on a current price of $160.85 and analysts' consensus price target of $214.53. The stock should find initial resistance at its 50-day moving average (MA) of $163.85 and further resistance at its 200-day MA of $171.80.

In the past 52 weeks, Cigna Corp share prices have been bracketed by a low of $141.95 and a high of $226.61 and closed yesterday at $160.85, 13% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has remained constant.

Cigna Corporation, a health services organization, provides insurance and related products and services in the United States and internationally. It operates through Global Health Care, Global Supplemental Benefits, Group Disability and Life, and Other Operations segments.

SmarTrend is monitoring the recent change of momentum in Cigna Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cigna Corp in search of a potential trend change.

Keywords: bullish am inside day candle cigna corp

Ticker(s): CI