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Downtrend Broken Resist.Archive
- 4/25/2025 -
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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 -3.01 points, or -4.96%, and closed at 57.69 on Friday, April 25, 2025. Weekly volume was 17% 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 46.12 and resistance is at 79.06. 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 trend support level is at 55.29 and resistance is at 59.26. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern 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 (62.57) 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 price touches the lower Bollinger Band. 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. 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.
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