The Greedy Trader Weekly Analysis
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Yearly Pattern:Ascending Triangle
Number of records: 3
Symbol:  

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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 :Broken trend support lineStochastic signal line moved below overbought areaWeekly  MACD line has moved below its signal lineBroken trend resistance line
Daily :Price has crossed below the 50 Day Moving AverageLane's Stochastic and MACD bullish divergencePrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was the negative week for the Centene Corporation (CNC). During the week, the CNC dropped -2.09 points, or -2.01%, and closed at 101.66 on Friday, February 09, 2018. Weekly volume was 71% above average.

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 (65.78) 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 112.42 on January 29, 2018. CNC gained -62.42 points, or -124.84%, in 63 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (103.36) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.

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 January 29, 2018 at 112.42 and reached 97.90 on February 9, 2018. CNC lost 14.52 points, or 12.92%, in 11 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic and MACD have bullish 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 daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since January 26, 2018. 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 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) 29.18
Williams' Percentage Range (W%R) 77.40
Lane's Stochastic (%D-Slow) 21.96
Bullish
Greed/Fear Indicator (GFI) 24.58
Moving Average Converg./Diverg. (MACD) 0.49 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.38
Williams' Percentage Range (W%R) 38.90
Lane's Stochastic (%D-Slow) 79.59
Greed/Fear Indicator (GFI) 64.91
Moving Average Converg./Diverg. (MACD) 6.01
Trading Signals
Description Value Chart
Upper Bollinger Band 113.29
Monthly Trendline Resistance 110.42
Weekly Stochastic Crossing 108.08
20 Day Moving Average 107.70
Parabolic System 105.19
50 Day Moving Average 104.09
Monthly Trendline Support 103.36
Daily Stochastic Crossing 101.75
Price 101.66
Lower Bollinger Band 97.51
Sector and Industry
Description Name Rank
Sector Healthcare 6
Industry Health Care Plans 113
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 107.09
High Date 02/07/2018
Low 97.90
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 112.42
High Date 01/29/2018
Low 97.90
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 110.42
Support 103.36
Low 50.00
Low Date 11/09/2016
High 112.42
High Date 01/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.36
Low Date 02/09/2016
High 112.42
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 76.65
Support 65.78
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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