The Greedy Trader Weekly Analysis
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Weekly Pattern:Rectangle
Number of records: 1
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Rectangle Chart Pattern - Rectangle Pattern and Chart analysis
A rectangle chart pattern is characterized as a short-term horizontal channel, and it represents a trading range and indecision area that usually resolves in the direction of the main trend. Chart analysis usually considers the rectangle pattern as a continuation formation, but it can also mark significant top and bottom. The rectangle pattern within a younger parent trend has more chances to mark a continuation. To estimate the maturity of the parent trend, consult technical indicators. Volume should increase during breakout, but in contrast with other continuation patterns, the rectangle does not inherit standard volume behavior. After breakout, the rectangle pattern resistance may turn into potential support and vice versa.
Tips:
# 1 As a continuation pattern, the rectangle pattern usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold daily indicators. The pattern resets short-term indicators to neutral and then continues movement in the parent's direction.
# 2 As a reversal formation, the pattern appears in a mature trend characterized by overbought/oversold indicators on long and short time frames. This situation usually generates divergence on weekly indicators.
# 3 For the best results, the rectangle chart pattern should be considered together with other technical analysis signals, chart analysis, and technical trading techniques.
Estimated target: the higher level parent's support/resistance line.
Rectangle, chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Centene Corporation
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Summary:
Weekly :Overbought sectorWeekly  MACD line has moved below its signal lineTrend support at 141.02
Daily :The price has fallen below the Parabolic SAR20 Day Moving Average has crossed below the 50 Day Moving AverageMACD bullish divergenceThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was the negative week for the Centene Corporation (CNC). During the week, the CNC dropped -3.15 points, or -2.19%, and closed at 140.82 on Friday, October 12, 2018. It was the worst weekly loss since July 27, 2018. Weekly volume was 15% above average.

CNC is a member of Healthcare Sector. Healthcare is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See CNC long-term trend chart]
A long-term uptrend had started on February 9, 2016 at 47.36 and reached 148.24 on September 7, 2018. CNC gained -100.88 points, or -213.01%, in 134 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 54.47 and resistance is at 151.66. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See CNC medium-term trend chart]
A medium-term downtrend had started on September 7, 2018 at 148.24 and reached 138.26 on October 11, 2018. CNC lost 9.98 points, or 6.73%, in 4 weeks. The chart has formed a Ascending Triangle chart pattern. The price is near the trend support (141.02) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 October 10, 2018 at 144.53 and reached 138.26 on October 11, 2018. CNC lost 6.27 points, or 4.34%, in 1 days. The price is now at the 40.83% retracement level.

Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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.

The daily MACD line is below its signal line since August 30, 2018. This is an indication that the short-term trend is down.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.26% on Friday. It is 52.63% lower than one year average. It indicates the period of low volatility of the stock price. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.43
Williams' Percentage Range (W%R) 65.80
Lane's Stochastic (%D-Slow) 25.06
Greed/Fear Indicator (GFI) 34.24
Moving Average Converg./Diverg. (MACD) 0.15 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.22
Williams' Percentage Range (W%R) 21.60
Lane's Stochastic (%D-Slow) 69.13
Greed/Fear Indicator (GFI) 67.33
Moving Average Converg./Diverg. (MACD) 9.33
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 151.66
Upper Bollinger Band 145.80
Parabolic System 145.71
Weekly Stochastic Crossing 144.87
Weekly Trendline Resistance 144.55
50 Day Moving Average 143.00
20 Day Moving Average 142.89
Weekly Trendline Support 141.02
Price 140.82
Daily Stochastic Crossing 140.06
Lower Bollinger Band 139.80
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Health Care Plans 153
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 144.53
High Date 10/10/2018
Low 138.26
Low Date 10/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Test Support
Resistance 144.55
Support 141.02
High 148.24
High Date 09/07/2018
Low 138.26
Low Date 10/11/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.00
Low Date 11/09/2016
High 148.24
High Date 09/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 151.66
Support 54.47
Low 47.36
Low Date 02/09/2016
High 148.24
High Date 09/07/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.10
Low Date 04/14/2008
High 148.24
High Date 09/07/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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