Multiple bull flags that played out;
Last one is kind of a strange bull flag that people might contest, but i think that it is still valid;
The bearish part of it seems to be a bearish rising wedge, but its not nearing the squeezed portion yet.
I will be watching this and may take a long trade on this.
$CI Cigna working out of a triangle continuation pattern today to the upside - after a bullish 50d/200d ema Golden Crossover last week.
Near term target - $200
Medium term target - $224 (January gap fill)
Note: informational analysis, not investment advice.
Cigna Corp reached a point 2 days ago that it couldn't hold its ground anymore after days of climbing.
Traders took position and today morning, with bell opening it broke severely.
Moved 2.5% intraday.
Generally speaking we're all pretty aware that a "Buy & Hold" strategy works well. Yet, we find outselves "trading". Despite the evidence indicating this is unwise.
In a snapshot view we can take a look at the daily chart (nearly a years worth) and view our 3 stocks in the Biotech basket - and we can pick up some obvious ...