Cigna Stock Ready to Bounce Off Bullish Trendline

Core Insights - Cigna Group's stock is currently trading at $343.11, down 1% from its previous position, but remains close to its record high of $365.71 reached on March 28, reflecting a year-over-year increase of 34.6% [1] - The recent pullback in Cigna's stock has brought it near its 80-day moving average, with historical data indicating that similar instances have led to significant upward movements in the past [2] - Following eight similar signals in the last three years, the stock has typically risen by an average of 6.1% within a month, suggesting potential for the stock to exceed $364 again [3] - The current market conditions also present a favorable opportunity for options trading, as indicated by a relatively low Schaeffer's Volatility Index (SVI) of 29%, which ranks in the 16th percentile of annual readings, suggesting lower volatility expectations [3]