Cigna Corporation, a health services organization, provides insurance
and related products and services in the United States and
internationally. The company’s Commercial segment offers insured and
self-insured customers medical, dental, behavioral health, and vision,
as well as prescription drug benefit plans, health advocacy programs,
and other products and services. Its Government segment offers Medicare
Advantage plans to seniors in 16 states and the District of Columbia,
Medicare Part D plans in 50 states and the District of Columbia, and
Medicaid plans. The company’s Group Disability and Life segment provides
group long-term and short-term disability insurance, group life
insurance, and accident and specialty insurance. Its Global Supplemental
Benefits segment offers supplemental health, life, and accident
insurance products, as well as individual Medicare supplement plans that
provide retirees with federally standardized Medigap-style plans. The
company’s Run-off Reinsurance segment reinsures guaranteed minimum death
benefits and guaranteed minimum income benefits plans. Its Other
Operations segment provides corporate-owned life insurance that are
permanent insurance contracts sold to corporations to offer life
coverage; and operates the run-off settlement annuity business.
Take a look at the 1-year chart of Cigna (NYSE: CI) below with my added notations:
Over the past year CI has been trending consistently higher, while
also forming a nice trend line of support (blue). Always remember that
any (2) points can start a trend line, but it's the 3rd test and
beyond that confirm its relevance. As you can see, the market deems this trendline to be very important. A pullback to that line will
provide trading opportunities, one way or another.
The Tale of the Tape: CI has a trend line support to
monitor. A long position could be entered on a pullback to the
trendline, with a stop placed below the level of entry. A short position
could be entered if CI were to break below its trendline.
