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Centene Bearish Moving Average Crossover Alert (CNC)

By Shiri Gupta

Today, shares of Centene (NYSE:CNC) have crossed bearishly below their 10-day moving average of $62.16 on a volume of 741K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Centene share prices have been bracketed by a low of $47.36 and a high of $83.00 and are now at $61.82, 31% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Centene on March 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $59.43. Since that recommendation, shares of Centene have risen 7.1%. We continue to monitor CNC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses centene

Ticker(s): CNC