CNC pushes through prior session high

Centene Corporation (CNC) Technical Analysis Report for May 17, 2018 | by Techniquant Editorial Team


CNC dominated by bulls lifting the market higher throughout the day
CNC pushes through previous session high


CNC ended Thursday at 114.57 gaining $1.51 (1.34%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 113.54, the market confirms its breakout through the prior session's high having traded $1.56 above it intraday.

Daily Candlestick Chart (CNC as at May 17, 2018):

Daily technical analysis candlestick chart for Centene Corporation (CNC) as at May 17, 2018

Thursday's trading range was $1.93 (1.7%), that's slightly below last trading month's daily average range of $2.61. Things look different on a weekly scale, where volatility is way below the markets average with the monthly volatility being slightly below average.

Prices are trading close to the key resistance level at 115.77.

Although the share is currently in a short-term down trend, this could just be a correction, as the medium and long term trends are both positive.

Buying might speed up should prices move above the close-by swing high at 115.77 where further buy stops could get activated. Selling might accelerate should prices move below the nearby swing low at 112.25 where further sell stops could get triggered. With prices trading close to this year's high at 117.86, upside momentum might speed up should Centene Corporation be able to break out to new highs for the year.

Market Conditions for CNC as at May 17, 2018

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CNC pushes through Thursday's high

Jan 18, 2019
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