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|It was the negative week for the Centene Corporation (CNC). During the week, the CNC dropped -9.03 points, or -6.35%, and closed at 133.22 on Friday, December 07, 2018. It was the worst weekly loss since October 26, 2018. Weekly volume was 29% 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 148.98 on December 4, 2018. CNC gained -101.62 points, or -214.57%, in 147 weeks. The price is now at the 15.51% retracement level.
Medium-term trend: [See CNC medium-term trend chart]
A medium-term uptrend had started on November 9, 2016 at 50.00 and reached 148.98 on December 4, 2018. CNC gained -98.98 points, or -197.96%, in 107 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 126.93 and resistance is at 149.00. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 5, 2018. The distance between MACD and the signal line is relatively high, but getting smaller. 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 December 4, 2018 at 148.98 and reached 131.19 on December 6, 2018. CNC lost 17.79 points, or 11.94%, in 2 days. The price is now at the 11.41% retracement level.
Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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.
The daily MACD line is above its signal line since November 21, 2018. The distance between MACD and the signal line is low and getting smaller.
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 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 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.