Here’s The Trade For Cigna Corp (CI)

President & CEO Chief Market Strategist at IntheMoneyStocks.com • Oct 29, 2020 at 3:11 PM EDT

Cigna Corp is a leading provider of managed healthcare services through HMO, PPO, POS, and indemnity plans. The stock has fallen sharply recently.

Cigna Corp (CI) is a leading provider of managed healthcare services through HMO, PPO, POS, and indemnity plans. The stock has fallen sharply recently. On October 23, 2020, the stock traded as high as $184.70 a share. Since that high pivot, the shares have declined down to $162.11 a share where it trades currently. This week alone the stock has broken below its 50-day moving average and is now testing the September lows.

Traders should watch the $152 level for some solid near term support. This area was where the stock was defended in March 2020 before soaring to over $200.00 a share. I will be watching for this support level to be tagged in order to trade Cigna Corp on the long side. Please remember, Cigna Corp will report earnings on November 5th, 2020.

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