Bearish Moving Average Cross by Centene (CNC)
Today, shares of Centene (NYSE:CNC) have crossed bearishly below their 10-day moving average of $67.95 on a volume of 1.2 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, shares of Centene have traded between a low of $47.36 and a high of $83.00 and are now at $64.91, which is 37% above that low price. The 200-day and 50-day moving averages have moved 0.4% lower and 0.66% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Centene on May 31st, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $62.30. Since that recommendation, shares of Centene have risen 10.1%. We continue to monitor CNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses centene