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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
Centene Corporation (CNC) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Centene Corporation (CNC). During the week, the CNC dropped -2.67 points, or -3.42%, and closed at 75.47 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. CNC was trading at average weekly trading volume. Long-term trend: [See CNC long-term trend chart] A long-term downtrend had started on August 15, 2022 at 98.53 and reached 60.84 on September 1, 2023. CNC lost 37.69 points, or 38.25%, in 54 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (59.81) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend. Medium-term trend: [See CNC medium-term trend chart] A medium-term uptrend had started on September 1, 2023 at 60.84 and reached 81.42 on February 26, 2024. CNC gained -20.58 points, or -33.83%, in 25 weeks. The price is now at the 28.91% retracement level. Weekly Technical Indicators: [See CNC weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since April 28, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help. Short-term trend: [See CNC short-term trend chart] A short-term downtrend had started on March 7, 2024 at 79.75 and reached 74.72 on March 14, 2024. CNC lost 5.03 points, or 6.31%, in 7 days. The price is now at the 14.91% retracement level. Daily Technical Indicators: [See CNC daily technical indicators chart] Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help. The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong. During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band. During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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