Cigna Corporation Stock Forecast
Cigna Corporation stock upgraded to Hold/Accumulate.
(Updated on May 28, 2024)
The Cigna Corporation stock price gained 0.180% on the last trading day (Tuesday, 28th May 2024), rising from $332.61 to $333.21. During the last trading day the stock fluctuated 1.18% from a day low at $331.72 to a day high of $335.65. The price has fallen in 6 of the last 10 days and is down by -4.56% for this period. Volume fell on the last day by -199 thousand shares and in total, 1 million shares were bought and sold for approximately $367.82 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $332.52 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Cigna Corporation stock with a 90% probability to be traded between $327.29 and $354.64 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CI Signals & Forecast
A buy signal was issued from a pivot bottom point on Friday, May 24, 2024, and so far it has risen 0.180%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Cigna Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $335.51 and $347.07. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Cigna Corporation stock
Cigna Corporation finds support from accumulated volume at $332.96 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $3.93 (1.18%) between high and low. For the last week, the stock has had daily average volatility of 1.43%.
Our recommended stop-loss: $313.79 (-5.83%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 40 days ago.)
Trading Expectations (CI) For The Upcoming Trading Day Of Wednesday 29th
For the upcoming trading day on Wednesday, 29th we expect Cigna Corporation to open at $333.53, and during the day (based on 14 day Average True Range), to move between $327.80 and $338.62, which gives a possible trading interval of +/-$5.41 (+/-1.62%) up or down from last closing price. If Cigna Corporation takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $332.96 (0.08%) than the resistance at $341.50 (2.49%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Cigna Corporation stock A Buy?
Cigna Corporation holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.740 Hold/Accumulate Upgraded
Predicted Opening Price for Cigna Corporation of Wednesday, May 29, 2024
| Fair opening price May 29, 2024 | Current price |
|---|---|
| $333.53 ( 0.0950%) | $333.21 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 337.46 | 1.27 % | |
| R2 | 335.96 | 0.82 % | ||
| R1 | 335.03 | 0.546 % | ||
| Current price: | 333.21 | |||
| Support | S1 | 332.03 | -0.356 % | |
| S2 | 331.10 | -0.634 % | ||
| S3 | 329.60 | -1.08 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 344.50 | 3.39 % | |
| R2 | 343.28 | 3.02 % | ||
| R1 | 341.50 | 2.49 % | ||
| Current price | 333.21 | |||
| Support | S1 | 332.96 | -0.0750% | |
| S2 | 332.73 | -0.144% | ||
| S3 | 332.61 | -0.180% |
CI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 04, 2024 | Jun 04, 2024 | Jun 20, 2024 | $1.40 | 0.420% |
| 2 | Feb 02, 2024 | Mar 05, 2024 | Mar 21, 2024 | $1.40 | 0.396% |
| 3 | Oct 25, 2023 | Dec 05, 2023 | Dec 21, 2023 | $1.23 | 0.414% |
| 4 | Jul 26, 2023 | Sep 05, 2023 | Sep 21, 2023 | $1.23 | 0.423% |
| 5 | Apr 26, 2023 | Jun 06, 2023 | Jun 22, 2023 | $1.23 | 0.447% |
FAQ
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