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Managed Health Care Industry Stocks Technical Analysis - CNCArchive
- 1/17/2025 -
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Centene Corporation (CNC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a sixth consecutive positive week for the Centene Corporation (CNC). During the week, the CNC climbed 0.42 points, or 0.68%, and closed at 62.25 on Friday, January 17, 2025. Weekly volume was -11% 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 52.50 and resistance is at 79.44. 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 Falling Wedge chart pattern. The downtrend resistance line (49.44) 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.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 January 16, 2025 at 61.71 and reached 63.13 on January 17, 2025. CNC gained -1.42 points, or -2.30%, in 1 days. Price is near the Fibonacci 61.8% 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.
The daily MACD line is above its signal line since November 19, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Health Care |
4 |
| Industry |
Managed Health Care |
40 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
61.71 |
| Low Date |
01/16/2025 |
| High |
63.13 |
| High Date |
01/17/2025 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
55.07 |
| Low Date |
12/11/2024 |
| High |
64.10 |
| High Date |
01/14/2025 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
49.57 |
| Support |
49.44 |
| High |
80.59 |
| High Date |
09/03/2024 |
| Low |
55.07 |
| Low Date |
12/11/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Right-Angled, Descending Wedge |
| Status |
Valid |
| Resistance |
79.44 |
| Support |
52.50 |
| High |
81.42 |
| High Date |
02/26/2024 |
| Low |
55.07 |
| Low Date |
12/11/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
98.53 |
| High Date |
08/15/2022 |
| Low |
55.07 |
| Low Date |
12/11/2024 |
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