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Downtrend Broken Resist.Archive
- 4/17/2025 -
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Centene Corporation (CNC) Technical Analysis
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| Summary:
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| | It was the negative week for the Centene Corporation (CNC). During the week, the CNC dropped -3.16 points, or -4.95%, and closed at 60.70 on Thursday, April 17, 2025. It was the worst weekly loss since February 7, 2025. Weekly volume was -16% below average.
 Long-term trend: [See CNC long-term trend chart]
A long-term downtrend had started on February 26, 2024 at 81.42 and reached 55.07 on December 11, 2024. CNC lost 26.35 points, or 32.36%, in 41 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 46.59 and resistance is at 79.09. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See CNC medium-term trend chart]
A medium-term downtrend had started on September 3, 2024 at 80.59 and reached 55.07 on December 11, 2024. CNC lost 25.52 points, or 31.67%, in 14 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (55.27) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since January 10, 2025. 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 13, 2025 at 55.17 and reached 66.03 on April 8, 2025. CNC gained -10.86 points, or -19.68%, in 54 days. The chart has formed a Rising Channel chart pattern. The price is near the trend support (61.20) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.
 Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
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