Monday, June 15, 2015

Centene - All Time High

Centene (CNC) is the Barchart Chart of the Day.  The hospital and medical service plan company has a Trend Spotter buy signal, a Weighted Alpha of 111.30+ and gained 119.86% in the last year.

The Chart of the Day belongs to Centene (CNC).  I found the stock by using Barchart to sort today's All Time High list for the stocks with the highest technical buy signals then used the Flipchart feature to review the charts.  Since the Trend Spotter signaled a buy on 5/20 the stock gained 9.68%.

Centene Corporation provides managed care programs and related services to individuals receiving benefits under Medicaid, including Supplemental Security Income, and the State Children's Health Insurance Program.

The status of Barchart's Opinion trading systems are listed below.  Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates.  The indicator numbers shown below therefore may not match what you see live on the web site when you read this report

Barchart technical indicators:

  • 100% Barchart technical buy signals
  • Trend Spotter buy signal
  • Above its 20, 50 and 100 day moving averages
  • 11 new highs and up 14.45% in the last month
  • Relative Strength Index 71.56%
  • Barchart computes a technical support level at 73.88
  • Recently traded at 78.21 with a 50 day moving average of 70.14
Fundamental factors:
  • Market Cap $9.30 billion
  • P/E 30.62
  • Revenue expected to grow 35.10% this year and another 11.50% next year
  • Earnings estimated to increase 22.50% this year, an additional 16.90% next year and continue to compound at an annual rate of 17.45% for the next 5 years
  • Wall Street analysts issued 4 strong buy, 6 buy and 9 hold recommendations on the stock.
The 50 - 100 Day MACD Oscillator has been an effective technical trading strategy for the this stock and should continue to be used to find entry and exit points.

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