A Bearish Sign Appears On Cigna Group's Chart By Benzinga

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A Bearish Sign Appears On Cigna Group's Chart

Published Mar 23, 2023 14:49 Updated Mar 23, 2023 16:11

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A Bearish Sign Appears On Cigna Group's Chart

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Benzinga - If history is any guide, there may be trouble ahead for shares of Cigna Group (NYSE:CI). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

What To Know: Many traders use moving average crossover systems to make their decisions.

When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.

Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.

The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.

That just happened with Cigna Group, which is trading around $265.95 at publication time.

Remember: Seasoned investors don't blindly trade Death Crosses.

Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.

For seasoned investors, this is just a sign that it might be time to start considering possible short positions.

With that in mind, take a look at Cigna Group's past and upcoming earnings expectations:

QuarterQ4 2022Q3 2022Q2 2022Q1 2022

EPS Estimate	4.86	5.71	5.48	5.18
EPS Actual	4.96	6.04	6.22	6.01
Revenue Estimate	45.71B	44.76B	44.41B	43.41B
Revenue Actual	45.74B	45.36B	45.43B	44.11B

Also consider this overview of Cigna Group analyst ratings:

Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Read the original article on Benzinga

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