This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Buy Signals From the Health Care Sector

Cigna

Cigna ( CI) has been another poster child for the S&P's orderly rally. Just like West, Cigna started on its own uptrend at the end of 2012, bouncing in between well-defined trendline support and resistance levels for the last seven months. Now, with shares of CI bouncing off of support this week, it makes sense to be a buyer.

>>Beat the S&P With 5 Stocks Everyone Else Hates

From a percentage standpoint, Cigna's retracement during the last correction was pretty tepid. That's a good sign for buyers -- this stock has been rallying harder than the market during the up-legs and falling less than the broad market on the down-legs. This trendline bounce is pitting Cigna to a test of resistance just below $70. That mini-breakout should add some extra upside to this latest buying move.

As with West, the 50-day is the ideal place for a protective stop in Cigna.

To see this week's trades in action, check out the Technical Setups for the Week portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

RELATED LINKS:



Follow Stockpickr on Twitter and become a fan on Facebook.

At the time of publication, author had no positions in stocks mentioned.

Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to
TheStreet . Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily , and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation.

Follow Jonas on Twitter @JonasElmerraji
6 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
A $41.00 0.11%
CI $144.14 0.06%
HCA $93.71 0.75%
PCRX $65.05 -2.10%
WST $60.32 0.75%

Markets

Chart of I:DJI
DOW 17,652.21 -37.65 -0.21%
S&P 500 2,098.66 -5.18 -0.25%
NASDAQ 5,125.0430 -3.2380 -0.06%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs