Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, which purpose is to provide a relative definition of high and low. This defintion is used to identify buy and sell signals and have proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. Get-A-Graph uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Bottlenecks in bandwidth indicates a upcoming change. Break up through the moving average line, or continuously movements above the moving average line indicates a break up, and vice versa downwards.
Centene Corporation Forecast and Stock Analysis
Technical CNC stock analysis for Monday June 24, 2019.
Centene Corporation fell by -1.84% in the last day ( Monday, 24th Jun 2019 ) from $56.37 to $55.33 During day the stock fluctuated 3.65% from a day low at $54.70 to a day high of $56.70. The price has been going up and down for this period, and there has been a 0.65% gain for the last 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -1.64 million shares and in total 5.64 million shares bought and sold for approximately $312.23 million.
- 30 day high of the CNC stock price was $58.24 and low was $51.11.
- 90 day high was $58.25 and low was $45.44.
- 52 week high for the Centene Corporation - $148.98 and low - $45.44.
Centene Corporation lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 4.09% during the next 3 months and, with 90% probability hold a price between $50.72 and $62.27 at the end of this period.
Centene Corporation holds buy signals from both short- and long-term moving averages, 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 $55.19 and $55.24. A break down below any of these levels will issue sell signals. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Friday June 21, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Relative Strength Index (RSI)
RSI14 is 60 and the stock is currently not being overbought or oversold
Support & Resistance
Centene Corporation finds support from accumulated volume at $54.74.
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $2.00 (3.65%) between high and low. For the last week, the stock has had a daily average volatility of 2.54%.
Our recommended stoploss: We hold a sell evaluation for this stock. No stop-loss set.
2.54 %Average volatility
Very Low Low Medium High Very High
Centene Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Buy Candidate to a Sell Candidate.
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|CNC $55.33 ($-1.04 -1.84%)|
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