$CI with a bullish outlook following its earnings #Stocks The PEAD projected a bullish outlook for $CI after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 90.91%.
CI trade ideas
CIGNA CORPORATION - LONGPrice seems to be pulling back from this pull back area - continuation of uptrend?
$CI with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CI after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 75%.
$CI healthcear leader near 52wk highCigna Corp sells healthcear memberships for dental, medical and other servicesa like. For the six months ended 30 June 2022, Cigna Corp revenues increased 6% to $89.07B. Net income increased 4% to $2.74B.
Breakout after breakout NYSE:CI is one of the few S&P 500 stocks that pass my trend template. As long the price stays above $272 I'm long.
The On Balance Volume confirms the uptrend also making higher lows. Is always great to see volume confirming price action.
But I'll wait for my ideal buy signal which is at $293.50. Let's see what happens.
CI: Break all time highs?CIGNA CORPORATION
Short Term - We look to Buy a break of 296.00 (stop at 288.02)
Price action continues to trade around the all-time highs. There is no sign that this bullish momentum is faltering but the pair has stalled close to a previous swing high of 294.50. The bias is to break to the upside. A break of resistance at 296.00 should lead to a more aggressive move higher towards 315.00.
Our profit targets will be 315.00 and 320.00
Resistance: 294.50 / 315.00 / 400.00
Support: 283.50 / 271.00 / 240.00
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CI - LongPilot Position only given the economic data out this week
Stock in a strong uptrend
In a strong sector
Earnings beats
Breaking out of Consolidation zone
Wont make you rich but good RR will keep the account going in the right direction!
CI - Ascending TriangleAn ascending triangle on the daily chart for CI
This is a bullish continuation pattern, as indicated by up arrow
Cigna – Is There a Sign of Trend Reversal for a Deep Correction?Fundamental Indicators:
Sector – Healthcare
US Business Cycle Stage – late cycle, when this sector is one of the most favourable
Revenue - consistently growing since for the last 10 years
Profits – peaked in 2020 and considerably dropped since then
Net margin – quite low with just 3% and dropping since 2020
P/E – at a good level of 16 compared to S&P500 with 21 and Healthcare sector 22
Liabilities - debt ratio is at 0.7 which is within normal limits
Conclusion – still good financial performance comparted to the market as a whole but with signs of a slow down
Technical Analysis (Elliott Waves):
Main scenario of this idea suggests that we are still observing development of the global growth cycle which is currently at the stage of completing wave 3 (see higher timeframe graph)
Since the correction of March 2020, we can see choppy move to the upside updating historic highs which is a sign of an Ending Diagonal. And wave 5 of 5 is also very likely to be an Ending Diagonal which indicates that bulls are out of energy and a sharp reversal is about to play out
The long term target for the depth of global wave 4 is likely to be $110-$150 (0.5-0.618 Fibonacci retracement levels). However, given the previous correction took 8 years between 2000 and 2008, the upcoming one should be even longer in duration according the EW guidelines
This is a higher timeframe to reflect the full history of Cigna and to provide full wave count:
What do you think about Cigna and its short term prospects?
Also let me know if you would like to see other stocks, indices, Forex or Crypto analysed using Elliott Waves.
$CI with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CI after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 71.43%.
$CI is breaking out of a ~14 month cup with handle pattern!Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Breaking out of a ~14 month cup with handle pattern
* It did break out before but then pulled back (seems like a shakeout)
* Now it's been in a tight range just above the broken resistance creating new support
* The last session printed a pocket pivot indicating institutional buying
Technicals:
Sector: Healthcare - Healthcare Plans
Relative Strength vs. Sector: 5.55
Relative Strength vs. SP500: 28.95
U/D Ratio: 1.77
Base Depth: 43.95%
Distance from breakout buy point: 1.09%
Volume -5.44% below its 15 day avg.
Trade Idea:
* You can enter now as the price is just above the broken resistance with the last session being a pocket pivot
* If you want a better entry you can look for one around the 270.1 area
* This stock usually has local tops when the price closes around 9.18% above its 50 EMA
* Consider selling into strength if the price closes 8.98% to 9.38% (or higher) above its 50 EMA
* The last closing price is 3.9% away from its 50 EMA
CI , LONG ( Fri close entry )
One of the stocks making all time highs recently that managed to close just at or slightly above it GLB with a wedge pop on friday . Decided to take it , stronger group too (healthcare).
Entry - 273.33
Stop - 266.95
PT1 - 279.66, Sell 1/4 , raise stop to half risk
PT2 - 286.09, Sell 1/4
run balance if possible .
$CI looking to break out of its ~14month cup and handle!Notes:
* Very strong up trend on all time frames
* Great earnings track record
* Pays out dividends
* Forming a cup and handle over the past ~14 months
* Bouncing off of its 50 day line with very bullish price action and volume
Technicals:
Sector: Healthcare - Healthcare Plans
Relative Strength vs. Sector: 2.7
Relative Strength vs. SP500: 1.65
U/D Ratio: 1.15
Base Depth: 43.95%
Distance from breakout buy point: -2.77%
Volume 2.78% above its 15 day avg.
Trade Idea:
* You can enter now as the price is just bouncing off of it 50 day line with volume
* If you want a better entry you can look for one around the 262.8 area
* This stock usually has local tops when the price closes around 9.64% above its 50 EMA
* Consider selling into strength if the price closes 9.44% to 9.84% (or higher) above its 50 EMA
* The last closing price is 3.14% away from its 50 EMA
CIGNA PUT/SHORTOne of my favorite setups. RSI, MACD, and OBV showing divergence and is currently trading below the declining MA 20 & 50
Trendline break on the daily, we should see this start to sell off (impulsive break)
First target $240 level near MA 100
Second target $225 near MA 200
$CI with a Bullish outlook following its earnings #Stocks The PEAD projected a Bullish outlook for $CI after a Positive Under reaction following its earnings release placing the stock in drift A with an expected accuracy of 66.67%.
CI LONGCigna looks great, and they just started paying a decent dividend. Blended P/E of 11 is pretty close to their adjusted operating earnings growth of 11.25%. Historic normal multiple is around 14.68.
Technically the saucer here should provide appropriate demand on the downside, so I think odds are to the upside. The equity looks great for an investment.
CI : Trade setupMonthly created an order block, daily came and retested it. We plan to buy the Breaker+ that was created in the process.
CI Ready to Form New All Time HighsQuick Background on Healthcare: Somewhat ironically, since the start of Covid the healthcare industry has underperformed overall markets and most other industries. That being said healthcare and Biotech are finally starting to get the investment attention that they deserve, as investors shift their portfolios to more value and defensive positions due to a number of looming macro threats on the global economy (mainly Omicron and inflation). In the last month healthcare stocks almost across the board have performed well because of this rotation in investment preference and I believe this is just the beginning of their gains.
Technical Analysis on Cigna Corp: This weekly setup on Cigna is downright beautiful and should prove very profitable to those on the long side of CI. CI just broke above a very strong resistance level around 227.50 and is looking like it wants to rip straight up to retest all time highs around 272 a share. strong momentum shown on the MACD suggests to me that a cross above zero is inevitable. MACD swinging to positive is of course very bullish and will lead to rapid price appreciation. I expect Cigna to hit previous ATH's and potentially briefly consolidate there around 272 mark, then rip up even further to make a new ATH and hit 300 per share for the first time ever.
CI: more downside?A bearish trend is applicable below 219.00
MACD bearish crossover supports downside price potential.
RSI leaves enough room for further downside price potential.
Remains below its 200-day simple moving average.
Potential breakout for CI (Cigna) 17% Upside(Opinion Only)
Undervalued amongst sector. Reports in about 2weeks. Should react nicely when $ANTM reports this week.
P/E of 9 vs. 20-28 (sector competitors)
Summary: Worst case already built in, has plenty of upside leading up to earnings end of month.
CI- Break out from 5 months downward trendsince 10th May peak, the stock was on bearish trend. As of 6th October is breakout the slope, went back for 1 day but break out again, confirming a trend reversal.
MA50 line is tested and rejected several time in the past 2 weeks but following fibo levels, I believe we look at a climb to 215-220 range before earnings on 4th Nov.
Earnings will define the story onwards
