Momentum

Million

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>CNC stock price has shown a range breakout in the last sessions.</a></li>
 <li><span>2</span> <a>Buyers are gaining traction and are looking to reach $100.</a></li>
</ul>
<p>Centene Corporation (NYSE: CNC) CNC share price has surpassed the upper neckline of the congestion zone and showed a range breakout. Moreover, the price action shows that buyers persisted in accumulating the stock and succeeded in exceeding key moving averages, indicating that sellers were trapped. Furthermore, the chart shows that CNC stock stayed inside the narrow range but has escaped the 200 day EMA barrier.</p>
<p>CNC stock price is above neutrality and is heading towards the $100 level. Furthermore, it is a positive sign that CNC stock has escaped the range ahead of the Q3 numbers, which the investors are waiting for and persisted in making long build ups. Per the options chain, at the strike price of $71, a massive open interest of 515 hundred shares on the call side, whereas 320 hundred shares on the put side shows that sellers were trapped in the last trading sessions.</p>
<p>At press time, CNC stock price was $71.89 with an intraday drop of 0.07%, showing neutrality on the charts. Moreover, the trading volume increased by 0.55% to 2.89 Million while the market cap is $38.927 Billion. Furthermore, analysts maintained a buy rating with a yearly target price of 81.11 suggesting a growth outlook.</p>
<p>Centene Corp. operates as a healthcare enterprise, which engages in the provision of programs and services to government sponsored healthcare programs. It operates through the following segments: Medicaid, Medicare, Commercial, and Other. The company was founded in 1984 and is headquartered in St. Louis, MO.</p>
<h2 class="wp-block-heading" id="strong-will-cnc-stock-price-surpass-immediate-barrier-of-80-strong"><strong>Will CNC Stock Price Surpass Immediate Barrier of $80?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/iB4rH1Qac4KgBeyn3zPH5efczAz-ohApXIefhZdmLOcE0IMBqwoDAbiOcjMPILkQLbt0xBiEtmqNayOG_TdQE84I5ZTyvj8EDK0hkRDvKp6YrQzs6Dbzb1nlq5ovqmDcohXqUdrkbXR8ZAxQdJLDO08" alt="Centene Corp. (NYSE: CNC) Picking up Momentum Ahead of Q3 Results">
  <figcaption class="wp-element-caption">
   Source: CNC Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div>
<p>On the daily charts, CNC <a href="https://www.thecoinrepublic.com/2023/09/17/centene-stock-nyse-cnc-chart-shows-double-bottom-will-it-cross-70/" rel="noopener noreferrer nofollow">stock </a>price is trading above the significant moving averages and has surpassed the congestion zone. Moreover, the chart shows that CNC stock has surpassed the 38.2% Fibonacci retracement zone and price action is favoring the bulls and suggesting that follow on buying will continue.</p>
<p>The RSI curve stayed in the overbought zone and showed a bullish divergence indicating that buyers have persisted in gaining traction and are looking to defeat the bears. The MACD indicator shows green bars on the histogram suggesting a positive outlook.</p>
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4>
<p>CNC stock price escaped the cage above the upper neckline of $70 showcasing buying interest. Moreover, the price action is favoring the bulls and surpassed the significant moving averages indicating that CNC stock is acquiring the momentum ahead of the Q3 earnings.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $70 and $62</p>
<p>Resistance Levels: $80 and $85</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Centene Corp. (NYSE: CNC) Picking up Momentum Ahead of Q3 Results

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Thecoinrepublic.com

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