The Greedy Trader Weekly Analysis
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Yearly Pattern:Ascending Triangle
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern
The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Ascending Triangle Pattern,Ascending Triangle,Ascending Triangle Chart Pattern,Trend Support, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Centene Corporation
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Summary:
Weekly :Overbought sectorRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineRelative Strength Index and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaRelative Strength Index and Lane's Stochastic bearish divergenceBroken trend resistance lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was the negative week for the Centene Corporation (CNC). During the week, the CNC gave back -0.43 points, or -0.29%, and closed at 146.05 on Friday, September 07, 2018. It was the worst weekly loss since July 27, 2018. Weekly volume was -26% below average.

CNC is a member of Healthcare Sector. Healthcare is the second 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 uptrend resistance line (54.32) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 148.24 on September 7, 2018. CNC gained -98.24 points, or -196.48%, in 95 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (126.67) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index 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, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 February 15, 2018 at 97.61 and reached 148.24 on September 7, 2018. CNC gained -50.63 points, or -51.87%, in 204 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (135.44) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.

Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and Lane's Stochastic bearish divergence.

The daily MACD line is below its signal line since August 30, 2018.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.96
Bearish
Williams' Percentage Range (W%R) 27.40
Lane's Stochastic (%D-Slow) 51.42
Bearish
Greed/Fear Indicator (GFI) 63.67
Moving Average Converg./Diverg. (MACD) 3.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.85
Overbought Bearish
Williams' Percentage Range (W%R) 7.10
Strong Overbought
Lane's Stochastic (%D-Slow) 94.87
Strong Overbought
Greed/Fear Indicator (GFI) 84.88
Overbought
Moving Average Converg./Diverg. (MACD) 8.71 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 147.71
Weekly Stochastic Crossing 147.24
Price 146.05
Daily Stochastic Crossing 145.88
20 Day Moving Average 144.42
Parabolic System 143.75
Weekly Trendline Resistance 141.31
Lower Bollinger Band 139.13
50 Day Moving Average 136.89
Weekly Trendline Support 135.44
Monthly Trendline Resistance 133.05
Quarterly Trendline Resistance 128.07
Monthly Trendline Support 126.67
Sector and Industry
Description Name Rank
Sector Healthcare 8
Industry Health Care Plans 153
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 129.05
Low Date 07/30/2018
High 148.24
High Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 141.31
Support 135.44
Low 97.61
Low Date 02/15/2018
High 148.24
High Date 09/07/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 133.05
Support 126.67
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 Broken Resistance
Resistance 128.07
Support 54.32
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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