4CNC trade ideas
CNC continues its bull trend after stock splitCNC has been on my watchlist for a few months - particularly since the gap up on 12th December 2014 when I last posted an analysis on this stock.
At that time I didn't feel it was a longer-term opportunity as price had experienced a couple of deep pullback which, although acceptable, were indicative of a fairly non-linear trend. The uptrend had begun only about six weeks before this and had not become established enough to trade. I was also waiting for a retest of what was then the $100 figure (now $50 due to the stock split).
Price did retest $100 (now $50), moved a little sideways (within a narrow range - hence keeping the trend intact) and has since printed multiple bull flags. However, with the stock split announced in early February it was preferable to stand aside to see what the outcome would be.
By waiting to enter we can see a really good trend has developed. With no price resistance ahead and a breakout bar yesterday (although higher volume would've been preferable) this is a good buy opportunity.
$CNC ***Centene option buying signals massive moves***Centene is not a name that we have looked at before but highly unusual call option buying has got out attention. After announcing the Purchase of Wellcare the stock had a initial sell off but quickly found buyers interest. This is a huge growth story in and is on Goldman Sacks growth stocks buy list.
What s wrong with CNC ?So , CNC is one of the strongest company in Health Care sector . PE-26,6 ; EPS Q\Q - 142% ; Sales Q\Q -12,5% ; ROE -15% ; no debt , Zacks VGM -A , last realy bad report was in 2016 and statistically it was one negative on twenty two positive ! Yahoo finance recomended raring 2.1 with average target price 140 ! IBD say - CNC is a group leader ship with composite rating 94 !Piartosky skore is 6 , z-score 3,3 ; m-skore is -2,6 . Real money rating is A! Sales 14,2 it is beter than expected 13,9 . Actual report is beter than expected ! CNC Short flot was 4,2 . Barchart rating is strong buy with 96 % positive options ! Total bulls trend ! Whats wrong with Centene Corporation ?
CNC Stock Analysis Daily TimeframeThis stock originally found strong resistance at the Figure 100, which then turned into strong support. This led to a continuation to the upside and price is trending very well at the moment.
Ideally, we would like to see price continue with this bullish momentum to the upside, in the overall direction of the trend.
CNC to break 2+ year resistance, move on to new all time highs..Since rebounding from the lows of November 2016, $CNC has been in a nice uptrend ever since, clocking a 66% return over the period. Price is now testing resistance levels of $83 set back in mid 2015. Over the next 16 trading days, price will get squeezed between the former resistance at $83 and the lower support of the upward trend. With bullish momentum and sector strength on our side, the odds are in favor of price breaking through the former support, setting all time highs. The trade is as follows: Long above $83, Stop of $81.50, Target of $93.
CNC continues bull trend after stock splitThis is the third time I have analysed CNC in the last few months. First in December 2014 - then again about a month ago. I have been waiting to see how CNC reacted to the February 2015 stock split which, so far, has been positive.
Yesterday saw price break out of a small consolidation. Price in the last month has been in a short range - but did spike down to almost $65. This should not have caused any concern for longer-term trend traders, but was unusual activity. Since then price has moved sideways until yesterdays break out bar. This bar was very bullish and with slightly higher volume.
However, earnings are due out in a few days time (28th April) so I will be standing aside until then. Once this data has shown itself to the market I will reconsider a buy for CNC.
