Wednesday Morning Thread

Gator's Chart of the Day: CI

Health care is a hot topic this week with the Supreme Court hearing arguments on Obamacare and the individual mandate.  We won't know the outcome for certain until June but there is a lot of trading to be done before then.  Cigna Corporation is a provider of health care plans which are sure to be affected.

The stock has made a series of higher lows (arrows) and is up against resistance that has been impenetrable on multiple tests over the last 6 months.  If you pound on something long enough it is likely to give way.  I think it will require one more pullback to the 45.50 area which also is the confluence of the 20/50/200 day simple moving averages but it could just pop through resistance instead.  I'll set a price alert for 47.50 and make a decision when it is triggered.