The Greedy Trader Weekly Analysis
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Weekly D%-Slow:< 20
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Lane's Stochastic (%D-Slow)

The Lane's Stochastic indicator developed by George Lane is one of the most useful and widely used momentum oscillators in technical analysis. Lane's Stochastic oscillator uses four indicators to combine relative strength with moving average methods. %K is an un-smoothed RSI. %D is a moving average of %K (fast stochastic). %D-Slow is a longer term moving average of %K, and finally %D-Slow (slow stochastic) Moving Avg. is another moving average. Like other overbought oversold oscillators, they are normalized within a scale of 0 to 100. Buy/sell signals are generated by %D stochastic crossover with its moving average above 80%, for overvalued, or below 20%, for undervalued stocks. The divergence between price and indicator is the most important buy/sell stocks trading signal. Lane's Stochastic bullish divergence/bearish divergence should be considered together with other stock market trading alerts, trading indicator and technical trading techniques.

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- 3/15/2024 -
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Centene Corporation (CNC) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Centene Corporation (CNC). During the week, the CNC dropped -2.67 points, or -3.42%, and closed at 75.47 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. CNC was trading at average weekly trading volume.

Long-term trend: [See CNC long-term trend chart]
A long-term downtrend had started on August 15, 2022 at 98.53 and reached 60.84 on September 1, 2023. CNC lost 37.69 points, or 38.25%, in 54 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (59.81) 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 long-term trend.

Medium-term trend: [See CNC medium-term trend chart]
A medium-term uptrend had started on September 1, 2023 at 60.84 and reached 81.42 on February 26, 2024. CNC gained -20.58 points, or -33.83%, in 25 weeks. The price is now at the 28.91% retracement level.

Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since April 28, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 March 7, 2024 at 79.75 and reached 74.72 on March 14, 2024. CNC lost 5.03 points, or 6.31%, in 7 days. The price is now at the 14.91% retracement level.

Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily 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.

The daily MACD line is below its signal line since February 29, 2024. 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 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. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 27.12
Williams' Percentage Range (W%R) 88.80
Oversold
Lane's Stochastic (%D-Slow) 23.75
Greed/Fear Indicator (GFI) 20.69
Moving Average Converg./Diverg. (MACD) 0.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.64
Williams' Percentage Range (W%R) 41.40
Lane's Stochastic (%D-Slow) 72.35
Greed/Fear Indicator (GFI) 60.58
Moving Average Converg./Diverg. (MACD) 2.00
Trading Signals
Description Value Chart
Upper Bollinger Band 80.27
Weekly Stochastic Crossing 78.66
20 Day Moving Average 78.35
Parabolic System 77.78
50 Day Moving Average 77.14
Daily Stochastic Crossing 75.69
Price 75.47
Lower Bollinger Band 74.74
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Managed Health Care 26
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 79.75
High Date 03/07/2024
Low 74.72
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 79.75
High Date 03/07/2024
Low 74.72
Low Date 03/14/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 81.42
High Date 02/26/2024
Low 74.72
Low Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 60.84
Low Date 09/01/2023
High 81.42
High Date 02/26/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 52.83
Support 59.81
High 98.53
High Date 08/15/2022
Low 60.84
Low Date 09/01/2023
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.