A clean Rectangle often precedes a big move. Validate your entry.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Bearish continuation if preceding move was down.
Technical analysis of Cigna (CI) reveals a significant setup. The stock is trading at $270.02, up 1.01% on the day. Price action has carved out a classic Bearish Flag. The trend indicator is reading 6.0/100, suggesting moderate momentum. A potential breakout level is identified at $257.85, targeting $219.53 with support near $273.11 (R:R 2.51).
What is your outlook on CI?