Centene Corporation Stock Forecast
Centene Corporation stock price ended at $74.63 on Friday, after losing 3.49%.
(Updated on May 24, 2024)
The Centene Corporation stock price fell by -3.49% on the last day (Friday, 24th May 2024) from $77.33 to $74.63. During the last trading day the stock fluctuated 4.86% from a day low at $74.24 to a day high of $77.84. The price has fallen in 6 of the last 10 days and is down by -4.06% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $292.42 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.73% during the next 3 months and, with a 90% probability hold a price between $67.78 and $76.22 at the end of this 3-month period.
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CNC Signals & Forecast
Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Centene Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $77.37 and $75.08. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 22, 2024, and so far it has fallen -4.85%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. The stock had a Golden Star Signal on Tuesday, July 18, 2023 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Tuesday, July 18, 2023 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Centene Corporation stock
Centene Corporation finds support from accumulated volume at $74.00 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 $3.61 (4.86%) between high and low. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CNC) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Centene Corporation to open at $75.57, and during the day (based on 14 day Average True Range), to move between $73.00 and $76.26, which gives a possible trading interval of +/-$1.63 (+/-2.19%) up or down from last closing price. If Centene Corporation takes out the full calculated possible swing range there will be an estimated 4.38% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $74.81 (0.24%) than the support at $74.00 (0.84%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Centene Corporation stock A Buy?
Centene Corporation holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock.
Current score: -4.716 Sell Candidate Unchanged
Predicted Opening Price for Centene Corporation of Tuesday, May 28, 2024
Fair opening price May 28, 2024 | Current price |
---|---|
$75.57 ( 1.26%) | $74.63 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CNC
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 79.17 | 6.09 % | |
R2 | 77.80 | 4.24 % | ||
R1 | 76.95 | 3.10 % | ||
Current price: | 74.63 | |||
Support | S1 | 74.19 | -0.588 % | |
S2 | 73.34 | -1.73 % | ||
S3 | 71.96 | -3.57 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 78.43 | 5.09 % | |
R2 | 77.14 | 3.36 % | ||
R1 | 74.81 | 0.241 % | ||
Current price | 74.63 | |||
Support | S1 | 74.00 | -0.84% | |
S2 | 73.75 | -1.18% | ||
S3 | 72.45 | -2.92% |
FAQ
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