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|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.