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Downtrend ExhaustionArchive
- 5/2/2025 -
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Centene Corporation (CNC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Centene Corporation (CNC). During the week, the CNC gained 2.47 points, or 4.28%, and closed at 60.16 on Friday, May 2, 2025. It was the best weekly gain since December 13, 2024. Weekly volume was 34% above 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 45.64 and resistance is at 79.03. 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 (55.30) 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 uptrend support line (63.33) 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 short-term trend.
Daily Technical Indicators: [See CNC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 16, 2025. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.
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