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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Centene Corporation (CNC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Centene Corporation (CNC). During the week, the CNC dropped -5.70 points, or -7.26%, and closed at 72.78 on Friday, April 5, 2024. Weekly volume was 13% above average.
 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 (59.70) 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 downtrend had started on February 26, 2024 at 81.42 and reached 71.24 on April 5, 2024. CNC lost 10.18 points, or 12.50%, in 5 weeks. The price is now at the 15.13% retracement level.
 Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly technical indicators are neutral.
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 March 28, 2024 at 78.91 and reached 71.24 on April 5, 2024. CNC lost 7.67 points, or 9.72%, in 8 days. The price is now at the 20.08% retracement level.
 Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily 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 links to access Lane's Stochastic and 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.
During the last week, the 20 Day Moving Average 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.
 Candlestick pattern: [See CNC candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.
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