Cigna Corporation Stock Forecast
Cigna Corporation stock price down 0.87% on Friday
(Updated on May 03, 2024)
The Cigna Corporation stock price fell by -0.87% on the last day (Friday, 3rd May 2024) from $344.50 to $341.50. During the last trading day the stock fluctuated 2.67% from a day low at $334.72 to a day high of $343.65. The price has been going up and down for this period, and there has been a -3.09% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -488 thousand shares and in total, 2 million shares were bought and sold for approximately $781.20 million.
Given the current short-term trend, the stock is expected to rise 6.88% during the next 3 months and, with a 90% probability hold a price between $365.00 and $399.07 at the end of this 3-month period.
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CI Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $352.23 and $354.58. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 01, 2024, and so far it has fallen -6.20%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Cigna Corporation stock
Cigna Corporation finds support from accumulated volume at $335.13 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $8.94 between high and low, or 2.67%. For the last week the stock has had daily average volatility of 2.64%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CI) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Cigna Corporation to open at $339.96, and during the day (based on 14 day Average True Range), to move between $335.10 and $347.90, which gives a possible trading interval of +/-$6.40 (+/-1.87%) up or down from last closing price. If Cigna Corporation takes out the full calculated possible swing range there will be an estimated 3.75% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $344.50 (0.88%) than the support at $335.13 (1.87%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Cigna Corporation stock A Buy?
The Cigna Corporation stock holds several negative signals and despite the positive trend, we believe Cigna Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -2.056 Sell Candidate Unchanged
Predicted Opening Price for Cigna Corporation of Monday, May 6, 2024
Fair opening price May 6, 2024 | Current price |
---|---|
$339.96 ( 0.452%) | $341.50 |
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 | 348.89 | 2.16 % | |
R2 | 345.48 | 1.16 % | ||
R1 | 343.37 | 0.547 % | ||
Current price: | 341.50 | |||
Support | S1 | 336.54 | -1.45 % | |
S2 | 334.43 | -2.07 % | ||
S3 | 331.02 | -3.07 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 363.09 | 6.32 % | |
R2 | 357.18 | 4.59 % | ||
R1 | 344.50 | 0.88 % | ||
Current price | 341.50 | |||
Support | S1 | 335.13 | -1.87% | |
S2 | 327.58 | -4.08% | ||
S3 | 321.27 | -5.92% |
CI Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Jun 04, 2024 | Jun 04, 2024 | Jun 20, 2024 | $1.40 | 0.410% |
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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