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 :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range is strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
Move cursor over the icon to see details.

It was a first positive week for the Centene Corporation (CNC). During the week, the CNC gained 5.95 points, or 4.83%, and closed at 129.16 on Friday, July 06, 2018. It was the best weekly gain since May 4, 2018. Weekly volume was -31% below 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 November 9, 2016 at 50.00 and reached 129.22 on July 6, 2018. CNC gained -79.22 points, or -158.44%, in 86 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (119.39) 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 February 15, 2018 at 97.61 and reached 129.22 on July 6, 2018. CNC gained -31.61 points, or -32.38%, in 20 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (122.30) 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 medium-term trend.

Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish 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. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since April 27, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 June 28, 2018 at 120.25 and reached 129.22 on July 6, 2018. CNC gained -8.97 points, or -7.46%, in 8 days. Price is near the trend high.

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

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.55
Williams' Percentage Range (W%R) 9.80
Strong Overbought
Lane's Stochastic (%D-Slow) 78.47
Greed/Fear Indicator (GFI) 78.05
Moving Average Converg./Diverg. (MACD) 2.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.94
Overbought
Williams' Percentage Range (W%R) 3.80
Strong Overbought
Lane's Stochastic (%D-Slow) 92.65
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 85.25
Overbought
Moving Average Converg./Diverg. (MACD) 5.64 Bearish
Trading Signals
Description Value Chart
Price 129.16
Weekly Trendline Resistance 127.99
Daily Stochastic Crossing 127.95
Weekly Stochastic Crossing 127.86
Upper Bollinger Band 127.55
Monthly Trendline Resistance 125.78
20 Day Moving Average 124.27
Parabolic System 123.81
Weekly Trendline Support 122.30
Lower Bollinger Band 119.70
Monthly Trendline Support 119.39
50 Day Moving Average 118.72
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Health Care Plans 136
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 120.25
Low Date 06/28/2018
High 129.22
High Date 07/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 127.99
Support 122.30
Low 97.61
Low Date 02/15/2018
High 129.22
High Date 07/06/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 125.78
Support 119.39
Low 50.00
Low Date 11/09/2016
High 129.22
High Date 07/06/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.36
Low Date 02/09/2016
High 129.22
High Date 07/06/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.10
Low Date 04/14/2008
High 129.22
High Date 07/06/2018
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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