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Shares of Centene Corp Fall Below Previous 52-Week Low

By Shiri Gupta

Centene Corp (NYSE:CNC) traded at a new 52-week low today of $45.31. So far today approximately 569,000 shares have been exchanged, as compared to an average 30-day volume of 4.9 million shares.

Potential upside of 185.8% exists for Centene Corp, based on a current level of $45.31 and analysts' average consensus price target of $129.50. Centene Corp shares should first meet resistance at the 50-day moving average (MA) of $51.65 and find additional resistance at the 200-day MA of $57.63.

Centene Corporation is a multi-line managed care organization that provides medicaid and medicaid-related programs. The Company has health plans in several states. The Company also provides specialty services, including behavioral health, nurse triage, and treatment compliance.

In the past 52 weeks, shares of Centene Corp have traded between the current low of $45.31 and a high of $74.49 and are now at $45.31. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Centene Corp on June 27th, 2019 by issuing a Downtrend alert when the shares were trading at $52.25. Since that call, shares of Centene Corp have fallen 12.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows centene corp

Ticker(s): CNC