The Greedy Trader Weekly Analysis
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Weekly Pattern:Rectangle
Number of records: 1
Symbol:  

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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 :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtOversold sectorWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought area
Move cursor over the icon to see details.

It was a fourth consecutive positive week for the Centene Corporation (CNC). During the week, the CNC climbed 0.24 points, or 0.24%, and closed at 101.34 on Friday, December 08, 2017. Weekly volume was -8% below average.

CNC is a member of Healthcare Sector. Healthcare is the most oversold 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 April 14, 2008 at 13.10 and reached 121.08 on February 19, 2015. CNC gained -107.98 points, or -824.27%, in 357 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (64.87) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 November 9, 2016 at 50.00 and reached 103.15 on December 4, 2017. CNC gained -53.15 points, or -106.3%, in 55 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 95.43 and resistance is at 103.03. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See CNC short-term trend chart]
A short-term uptrend had started on November 15, 2017 at 90.07 and reached 103.15 on December 4, 2017. CNC gained -13.08 points, or -14.52%, in 19 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since November 21, 2017. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.86
Williams' Percentage Range (W%R) 15.60
Overbought
Lane's Stochastic (%D-Slow) 56.57
Greed/Fear Indicator (GFI) 68.95
Moving Average Converg./Diverg. (MACD) 1.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.45
Williams' Percentage Range (W%R) 8.50
Strong Overbought
Lane's Stochastic (%D-Slow) 79.21
Greed/Fear Indicator (GFI) 74.71
Moving Average Converg./Diverg. (MACD) 5.33
Trading Signals
Description Value Chart
Upper Bollinger Band 103.78
Monthly Trendline Resistance 103.03
Price 101.34
Daily Stochastic Crossing 100.74
Parabolic System 99.65
Weekly Stochastic Crossing 99.42
20 Day Moving Average 97.15
50 Day Moving Average 95.78
Monthly Trendline Support 95.43
Lower Bollinger Band 91.93
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Health Care Plans 110
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 90.07
Low Date 11/15/2017
High 103.15
High Date 12/04/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 89.08
Low Date 10/25/2017
High 103.15
High Date 12/04/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 103.03
Support 95.43
Low 50.00
Low Date 11/09/2016
High 103.15
High Date 12/04/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.36
Low Date 02/09/2016
High 103.15
High Date 12/04/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 75.74
Support 64.87
Low 13.10
Low Date 04/14/2008
High 121.08
High Date 02/19/2015
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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