CIGNA (CI) Is One of Today's Top Gainers On Upgrade

Posted: Monday, November 23, 2009 2:45 PM EDT

CIGNA (CI) leads the list of top gainers so far today, helped by an upgrade from JP Morgan. The stock was lifted to Overweight from Neutral and is now at $32.12, up $2.09 (6.96%) on volume of 3,910,154 shares traded. Over the last 52 weeks the stock has ranged from a low of $8.00 to a high of $33.00. CIGNA stock has been showing support around $29.18 and resistance in the $30.60 range. Technical indicators for the stock are neutral and S&P gives CI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CI the stock seems like it could be a candidate for an April out-of-the-money bull-put credit spread below the 27 range. [ABR-Seven Summits Strategic Investments NewsBite]

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