Centene Corp Stock Forecast
Green day on Thursday for Centene Corp stock after gaining 2.27%
(Updated on Apr 18, 2024)
The Centene Corp stock price gained 2.27% on the last trading day (Thursday, 18th Apr 2024), rising from £88.00 to £90.00. During the last trading day the stock fluctuated 5.08% from a day low at £87.55 to a day high of £92.00. The price has risen in 6 of the last 10 days and is up by 4.05% over the past 2 weeks. Volume fell on the last day by -97 thousand shares and in total, 138 thousand shares were bought and sold for approximately £12.43 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Centene Corp stock with a 90% probability to be traded between £84.60 and £96.37 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CNC.L Signals & Forecast
Mostly positive signals in the chart today. The Centene Corp stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at £87.07 and £88.41. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, March 27, 2024, and so far it has risen 8.43%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for Centene Corp stock
Centene Corp finds support from accumulated volume at £89.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved £4.45 (5.08%) between high and low. For the last week, the stock has had daily average volatility of 2.21%.
The Centene Corp stock is extremely overbought on RSI14 (85). This increases the short-term risk substantially.
Our recommended stop-loss: £86.59 (-3.79%) (This stock has low daily movements and this gives low risk. The RSI14 is 85 and this increases the risk substantially. There is a buy signal from a pivot bottom found 14 days ago.)
Trading Expectations (CNC.L) For The Upcoming Trading Day Of Friday 19th
For the upcoming trading day on Friday, 19th we expect Centene Corp to open at £89.85, and during the day (based on 14 day Average True Range), to move between £87.81 and £92.19, which gives a possible trading interval of +/-£2.19 (+/-2.44%) up or down from last closing price. If Centene Corp takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at £89.00 (1.11%) than the resistance at £91.50 (1.67%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Centene Corp stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Centene Corp stock to perform well in the short-term period.
Current score: 3.158 Buy Candidate Unchanged
Predicted Opening Price for Centene Corp of Friday, April 19, 2024
| Fair opening price April 19, 2024 | Current price |
|---|---|
| £89.85 ( 0.167%) | £90.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNC.L
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 94.30 | 4.78 % | |
| R2 | 92.60 | 2.89 % | ||
| R1 | 91.55 | 1.72 % | ||
| Current price: | 90.00 | |||
| Support | S1 | 88.15 | -2.06 % | |
| S2 | 87.10 | -3.22 % | ||
| S3 | 85.40 | -5.11 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 93.00 | 3.33 % | |
| R2 | 92.00 | 2.22 % | ||
| R1 | 91.50 | 1.67 % | ||
| Current price | 90.00 | |||
| Support | S1 | 89.00 | -1.11% | |
| S2 | 88.00 | -2.22% | ||
| S3 | 85.00 | -5.56% |
CNC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 30, 2022 | Jul 07, 2022 | Jul 21, 2022 | £1.40 | 1.68% |
| 2 | Sep 07, 2021 | Sep 16, 2021 | Oct 01, 2021 | £1.15 | 1.33% |
| 3 | Mar 10, 2021 | Mar 18, 2021 | Apr 01, 2021 | £1.45 | 1.47% |
| 4 | Sep 02, 2020 | Sep 17, 2020 | Oct 02, 2020 | £1.10 | 1.09% |
| 5 | Mar 10, 2020 | Mar 19, 2020 | Apr 03, 2020 | £1.45 | 1.53% |
FAQ
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