The question on everyone's mind: Will THE CIGNA GROUP breakout?

Our stock screener has spotted THE CIGNA GROUP (NYSE:CI) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:CI.

What is the technical picture of NYSE:CI telling us.

Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.

Taking everything into account, CI scores 7 out of 10 in our technical rating. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CI is only an average performer.

• The long and short term trends are both positive. This is looking good!
• CI is one of the better performing stocks in the Health Care Providers & Services industry, it outperforms 76% of 115 stocks in the same industry.
• In the last month CI has a been trading in the 274.90 - 294.36 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the performance of all stocks over the past year, CI turns out to be only a medium performer in the overall market: it outperformed 62% of all stocks.
• CI is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.

Check the latest full technical report of CI for a complete technical analysis.

How does the Setup look for NYSE:CI

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for NYSE:CI is 9:

Besides having an excellent technical rating, CI also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 293.78. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 287.55, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How to trade NYSE:CI?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.