CENTENE CORP (CNC) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:CNC - US15135B1017 - Common Stock
We assign a technical rating of 6 out of 10 to CNC. CNC has been a bad performer in the overall market. Some doubts are observed in the medium term time frame, but recent action was again very positive.
Although the technical rating is only medium, CNC does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 40.86. Right above this resistance zone may be a good entry point.
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35.03
When analyzing the support we can see 3 important areas.
- A support zone ranging from 39.01 to 39.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 37.29 to 37.91. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @35.38 from a trend line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 40.86 to 40.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Resistance @46.55 from a trend line in the weekly time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for CNC is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CNC is up. |
| ChartMill Relative Strength | 24.03 | NEGATIVE | CNC has a low relative strength, it was outperformed by 75.97% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CNC is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CNC is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of CNC is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 60.58 | NEUTRAL | The RSI value for CNC is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests CNC has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 61.25 | NEUTRAL | The Stochastics value for CNC is a neutral value. |
| Average True Range in percent/ATR (20) | 2.91 | MEDIUM VOLATILITY | The ATR as a percentage value for CNC suggests some volalility. |
| Average Directional Index/ADX (14) | 8.53 | NEGATIVE | The low ADX value for CNC suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 40.87 | 39.00 | 1.87 (4.58%) | 21.86% |
| An entry @40.87. This is a Buy Stop order right above the resistance zone. | An exit @39.00. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.87 points, which is 4.58%. | When investing 21.86% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The distance between exit and entry is rather small compared to the average daily movement of CNC. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
40.51
+0.62 (+1.55%)
CENTENE CORP / CNC FAQ
Can you provide the ChartMill technical rating for CENTENE CORP?
ChartMill assigns a technical rating of 6 / 10 to CNC.
What is the current trend direction of CENTENE CORP (CNC) stock?
The current trend direction for CENTENE CORP (CNC) is Bearish.
Can you provide the RSI signal for CENTENE CORP?
CENTENE CORP (CNC) has an RSI value of 60.5757. This indicates that the stock is currently neutral.
What is the MACD signal for CNC stock?
The MACD indicator for CENTENE CORP (CNC) has a value of -0.0183983, indicating a bearish trend.
Can you provide the support and resistance levels for CENTENE CORP?
CENTENE CORP (CNC) has a support level at 39.73 and a resistance level at 40.86. Check the full technical report for our detailed analysis of CNC support and resistance levels.