Quick Background on Healthcare: Somewhat ironically, since the start of Covid the healthcare industry has underperformed overall markets and most other industries. That being said healthcare and Biotech are finally starting to get the investment attention that they deserve, as investors shift their portfolios to more value and defensive positions due to a number of looming macro threats on the global economy (mainly Omicron and inflation). In the last month healthcare stocks almost across the board have performed well because of this rotation in investment preference and I believe this is just the beginning of their gains.
Technical Analysis on Cigna Corp: This weekly setup on Cigna is downright beautiful and should prove very profitable to those on the long side of CI. CI just broke above a very strong resistance level around 227.50 and is looking like it wants to rip straight up to retest all time highs around 272 a share. strong momentum shown on the MACD suggests to me that a cross above zero is inevitable. MACD swinging to positive is of course very bullish and will lead to rapid price appreciation. I expect Cigna to hit previous ATH's and potentially briefly consolidate there around 272 mark, then rip up even further to make a new ATH and hit 300 per share for the first time ever.
Technical Analysis on Cigna Corp: This weekly setup on Cigna is downright beautiful and should prove very profitable to those on the long side of CI. CI just broke above a very strong resistance level around 227.50 and is looking like it wants to rip straight up to retest all time highs around 272 a share. strong momentum shown on the MACD suggests to me that a cross above zero is inevitable. MACD swinging to positive is of course very bullish and will lead to rapid price appreciation. I expect Cigna to hit previous ATH's and potentially briefly consolidate there around 272 mark, then rip up even further to make a new ATH and hit 300 per share for the first time ever.