Centene Corporation Forecast and Stock Analysis
Technical CNC stock analysis for March 15, 2019.
|Shorts||1.59% ( 2019-02-28 )|
Centene Corporation fell by -0.39% in the last day from $59.38 to $59.15 and has now fallen 3 days in a row. The price has fallen in 6 of the last 10 days and is down by -3.57% for this period. Volume has increased in the last day by 1.42 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 4.05 million shares bought and sold for approximately $239.82 million.
Close price at the end of the last trading day (Friday, 15th Mar 2019) of the CNC stock was $59.15. This is 0.39% less than the trading day before Thursday, 14th Mar 2019.
During day the stock fluctuated 1.88% from a day low at $59.07 to a day high of $60.18.
30 day high of the CNC stock price was $65.48 and low was $55.90.
90 day high was $138.49 and low was $55.90.
52 week high for the Centene Corporation - $148.98 and low - $55.90.
Centene Corporation lies in the middle of a very 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 -46.97% during the next 3 months and, with 90% probability hold a price between $16.24 and $48.93 at the end of this period.
There are few to none technical positive signals at the moment. Centene Corporation holds a buysignal from the short-term moving average; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On further gains, the stock will meet resistance from the long-term moving average at $78.75. On a fall, the stock will find some support from the short-term average at $58.18. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sales signal and strengthen the general signal. A sales signal was issued from a pivot top point on Wednesday March 13, 2019, which indicates further falls 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.
Relative Strength Index (RSI)
RSI14 is 31 and the stock is currently not being overbought or oversold
Support & Resistance
Centene Corporation finds support from accumulated volume at $58.56.
This stock may move much during a day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $1.11 between high and low, or 1.88%. For the last week, the stock has had a daily average volatility of 2.31%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
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Evaluation: Strong Sell Candidate
Centene Corporation holds several negative signals and is within a very 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.