The Stock Pulse - Jan. 15, 2026

Stephen Suttmeier
Jan 15
7 min read

*** Please see the bottom of this report for important disclaimers and disclosures.***

Three bulls: ADM, AFL, and EVRG; One vulnerable: CI

Three bullish stocks: ADM, AFL, and EVRG; One vulnerable stock: CI

Archer Daniels Midland (ADM), Aflac (AFL), and Evergy (EVRG) show bullish technical patterns, while Cigna (CI) remains vulnerable.

ADM is forming a 2-year head-and-shoulders bottom, with a breakout above 65.00–66.08 needed to confirm it and open upside toward 79.60 and 87–89, while holding 61.37–55.58 keeps the right shoulder intact.
AFL is improving within a late-2024 to early-2026 bullish consolidation, supported by rising 26- and 40-week moving averages, where holding 108–104 would set the stage for a breakout above 113.45–115.50 and upside toward 134.
EVRG is working through a bullish breakout-and-retest from a multi-year base, with strength above the low-70s supporting upside beyond 79.32 toward 93–96.
In contrast, CI remains weak with a bearish wedge and downside risk to 258 and 240–239 unless rallies can reclaim the 286–289 resistance zone.

Archer Daniels Midland (ADM): A potential 2-year head and shoulders bottom

ADM, a food products stock, is building a head and shoulders (H&S) bottom dating back to early 2024. A decisive breakout above 65.00–66.08 would confirm this bullish reversal pattern, opening upside to initial resistance at 68.39–70.42 (declining 200-week moving average and 61.8% extension), with longer-term targets near 79.60 (100% extension) and 87–89 (mid-2023 peak/pattern count). Until confirmation, holding supports from 61.37 down to 57.17-55.58 would keep the right shoulder firmly in place.

Aflac (AFL): Improves within a bullish consolidation pattern

AFL is an insurance stock that is improving within a late 2024 into early 2026 bullish consolidating pattern. Rising 26- and 40-week moving averages at 108.67-107.19 reinforce this developing basing pattern ahead of key chart supports at 107.01 and 104.66. Holding above or within the 108 to 104 range would bode well for a future breakout above 113.45-115.50, which would confirm the bullish consolidation and project further upside to 134.

Evergy (EVRG): Big base breakout and retest pattern

EVRG, an electric utilities stock, has a bullish breakout and retest pattern from an early 2020 into mid 2025 big basing pattern. Rising 26- and 40-week moving averages at 74.06-71.84 reinforce this bullish setup just above the big base breakout zone at 71.50-70.00. While above the low 70s the big base breakout remains intact with upside potential beyond the mid October high at 79.32 toward the pattern counts at 93 and 96. A decisive rally above the 13-week moving average and mid October downtrend line at 74.91-75.50 would increase bullish conviction.

Cigna (CI): At risk for a bearish continuation pattern within weak trend

CI, a health care providers and services stock, remains within weak absolute price and relative trends as defined by declining 26- and 40-week moving averages. The risk is for a breakdown from the rising (aka bearish) wedge and downside pressure to 258.27 (early December low) and 240.50-239.51 (big support at the November 2025, May/June 2023, and June 2022 lows). Rallies that cannot reclaim the 286-289 area (61.8% retracement of the October-November decline and early January peak) keep the pattern bearish.

Monitor our “Straight from the Chart” blog for more stock and ETF charts

What is The Stock Pulse?

The Stock Pulse provides bullish and bearish stock and ETF ideas

The Stock Pulse highlights bullish and bearish technical setups across common stocks, ADRs, and ETFs. The report emphasizes weekly charts to reduce short-term noise and targets a three-to-six-month investment horizon. We analyze price action and trends from both an absolute and relative perspective. Our relative benchmark is typically the S&P 500. We focus on the technicals, we but encourage investors to evaluate the fundamentals before acting on the ideas presented in The Stock Pulse.

We can categorize these charts as follows:

Bullish leadership: Bullish absolute and bullish relative trends. This technical setup represents a confirmed bullish trend. It also can indicate a bullish momentum stock.
- Actions to consider: Buy dips, hold longs, and avoid shorts.
Bearish laggard: Bearish absolute and bearish relative trends. This technical setup represents a confirmed bearish trend. It also can indicate a bearish momentum stock.
- Actions to consider: Sell rallies, hold shorts, and avoid longs.
Bullish weakening: A bullish absolute trend and a deteriorating to bearish relative trend. The stock has rallied but lags its benchmark. This lack of bullish relative confirmation provides a negative divergence, which is a potential bearish leading indicator for the absolute price chart.
- Actions to consider: Protect or reduce absolute longs, consider relative shorts, and if aggressive, initialize an absolute short.
Bearish strengthening: A bearish absolute trend and an improving to bullish relative trend. The stock has declined, but it has dropped less than its benchmark. This lack of bearish relative confirmation provides a positive divergence, which is a potential bullish leading indicator for the absolute price chart.
- Actions to consider: Protect or reduce absolute shorts, consider relative longs, and if aggressive, initialize an absolute long.

Key indicators

We rely weekly charts – both absolute and relative – with simple weekly moving averages (WMA) and Trend Scores to assess the technical condition of the stocks, ADRs, and ETFS highlighted in this note. In addition, we may also highlight other important indicators and well as provide technical screens.

Weekly moving averages show multiple timeframes on one chart

The slope of the moving average is more important than whether the price is above or below it
13-WMA: Quarterly and tactical trend
26-WMA: Half-year and intermediate trend
40-WMA: Longer-term trend and similar to the 200-day moving average
200-WMA: Long-term or macro trend

Trend Scores

Trend Score: Ranges from -10 to +10 and incorporates the 13-, 26-, and 40-WMAs. Higher scores indicate stronger trends with prices above rising WMAs. Lower scores indicate weaker trends with price below declining WMAs. Longer WMAs are more heavily weighted.
Long-term Trend Score: Ranges from -20 to +20 and includes the 13-, 26-, 40-, and 200-WMAs. Higher scores reflect stronger long-term uptrends, while lower scores indicate long-term downtrends. Longer WMAs carry more weight.

Three bullish charts: ADM, AFL, and EVRG

Archer Daniels Midland (ADM): A potential 2-year head and shoulders bottom

Chart notes:

Rising 26- and 40-week moving averages at 60.15 and 56.81, respectively, reinforce the developing right shoulder of ADM’s H&S bottoming pattern.
If ADM is weaker than expected, the left shoulder lows at 52.28-50.72 offer additional support.
The 61.8% and 100% extension targets are derived by projecting the rally from the cup low (40.98) to the handle high (65.00) upward from the handle low (55.58).
ADM is forming a late 2024 into early 2026 bottom relative to the S&P 500 (SPX).
We previously highlighted the potential for a developing head and shoulder bottom for ADM on November 12, 2025, in our Straight from the Chart blog.

Chart 1: Archer Daniels Midland Co. (ADM) (top) and relative to the S&P 500 (bottom)

Source: Optuma, Suttmeier Technical Strategies

Aflac (AFL): Improves within a bullish consolidation pattern

Chart notes:

AFL has stabilized vs. the SPX since mid 2025 and could be forming a bottom. Relative strength for AFL beyond the weekly moving averages vs. the SPX is required to confirm this potentially bullish setup.

Chart 2: Aflac Inc. (AFL) (top) and relative to the S&P 500 (bottom)

Source: Optuma, Suttmeier Technical Strategies

Evergy (EVRG): Big base breakout and retest pattern

Chart notes:

A declining 200-week moving average suggests a long-term lagging trend for EVRG vs. the SPX. Within this weak long-term trend, EVRG is leading the SPX from mid 2024 but lagging from April 2025.

Chart 3: Evergy Inc. (EVRG) (top) and relative to the S&P 500 (bottom)

Source: Optuma, Suttmeier Technical Strategies

One vulnerable stock chart: CI

Cigna (CI): At risk for a bearish continuation pattern within weak trend

Chart notes:

CI remains within a longer-term bearish trend relative to the SPX from late 2022 with risk to new multi-year lows.

Chart 4: The Cigna Group (CI) and relative to the S&P 500 (bottom)

Source: Optuma, Suttmeier Technical Strategies

Suttmeier Technical Strategies, LLC (STS) provides financial commentary and market analysis for educational and informational purposes only. We are not registered investment advisors, and nothing published by STS should be considered personalized investment advice, a recommendation to buy or sell any security, or a solicitation to engage in investment activity. All content is impersonal and does not consider your individual financial circumstances. Past performance is not indicative of future results. Investing involves risk, and you should consult with a licensed financial advisor before making any investment decisions. STS or its representatives may hold positions in securities mentioned in our publications. Such holdings are subject to change without notice and do not constitute investment advice.

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