Long Position on CI @ $65.30 on 4/9/2013 (Momentum)

Cigna Corporation (CI) provides insurance and related products and services in the United States and internationally.

The company's Commercial segment offers insured and self-insured medical, dental, behavioral health, vision, and prescription drug benefit plans, health advocacy programs, and other products and services. Its Government segment offers Medicare Advantage plans to seniors in 13 states and the District of Columbia, Medicare Part D plans in all 50 states and the District of Columbia, and Medicaid plans.

The company's Group Disability and Life segment provides group long-term and short-term disability insurance, group life insurance, and accident and specialty insurance. Its Global Supplemental Benefits segment offers supplemental health, life, and accident insurance products, as well as offers individual Medicare supplement plans that provide retirees with federally standardized Medigap-style plans. The company's Run-off Reinsurance segment manages its run-off reinsurance coverage for risks written by other insurance companies under life and annuity policies and accident policies under guaranteed minimum death benefits and minimum income benefits contracts. 

Shares have formed a bullish "cup & handle" and higher prices are expected for this stock.

52-Week Trading Range:  $39.01 - $66.67

Entry Point: $65.30

Stop Loss:  $62.02

Target Price:   $71.80

Updates

5/9/2013 10:04:13 AM

We are closing CI at $68.40 after our 30-day period expired. We had nearly 5% gain.

Position closed on 5/9/2013 at price of $68.40 with a 4.75% gain in 30 days.

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