Cigna

Cigna (CI), a health services organization, provides insurance and related products and services in the U.S. and internationally. This stock closed up 2% at $77.71 in Friday's trading session.

Friday's Volume: 4.84 million
Three-Month Average Volume: 1.61 million
Volume % Change: 197%

>>5 Stocks Ready to Explode Higher

From a technical perspective, CI jumped modestly higher here right above some near-term support at $73.57 with above-average volume. This stock recently gapped down sharply from over $85 to $76 with heavy downside volume. Shares of CI are now starting to rebound following that move and the stock is quickly moving within range of triggering a near-term breakout trade. That trade will hit if CI manages to take out its 200-day moving average of $78.49 to its gap-down-day high of $81 with high volume.

Traders should now look for long-biased trades in CI as long as it's trending above support at $75.37 and then once it sustains a move or close above those breakout levels with volume that hits near or above 1.61 million shares. If that breakout hits soon, then CI will set up to re-fill some of its previous gap-down-day zone that started just above $85.

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