CNC Price Prediction Next Week
Technical Analysis: CNC is currently trading at $57.68, showing bearish momentum with RSI-14 at 40.77 indicating a neutral-to-bearish sentiment. The MACD (-1.38) remains below the signal line, suggesting continued downward pressure.
Price Levels and Support/Resistance:
- Fibonacci levels indicate key resistance at $58.92 and $59.90
- Support levels established at $55.75 and $54.77
- Currently trading below all major moving averages (SMA 20: $60.42, SMA 200: $67.57), indicating bearish trend
News Impact: Recent legislative developments affecting Medicaid's third-party liability rules could impact CNC's operations, though the market hasn't shown significant reaction to this news yet.
Volume Analysis: Recent trading sessions show declining volume, with the latest session recording 4.75M shares compared to previous higher volumes, suggesting decreasing market participation.
Price Prediction for Next Week: Based on technical indicators and current market conditions:
- Likely trading range: $55.75 - $58.92
- Most probable scenario: Continued downward pressure with potential support test at $55.75
- Target price by week end: $56.30
Recommendation: SELL Rationale:
- Trading below all major moving averages
- Negative MACD crossover
- Weak RSI momentum
- Bearish price structure forming
Entry point for shorts: Current price ($57.68) Stop loss: $58.95 (above Fibonacci R1) Take profit: $55.75 (Fibonacci S1)
CNC Similar Chart Price Prediction
The price of CNC is predicted to go up 43.05%, based on the high correlation periods with SMCI. The similarity of these two price pattern on the periods is 97.96%.
CNC
SMCI
Up: 43.05%Similarity: 97.96%
CNC Revenue Forecast
CNC EPS Forecast
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CNC VS S&P500
Centene represents a countercyclical investment opportunity in managed care, as it can benefit from economic downturns through increasing enrollment in its Medicaid and individual exchange products.
With a focus on government-sponsored programs, Centene could benefit from potential U.S. policy changes to reach universal, affordable coverage in the long run.
Centene's 12% to 15% long-term earnings growth target puts it near the top of its MCO peers in that aspiration.
CNC Analyst's Forecast
Stephen Baxter
Wells Fargo
Buy
2025-02-14
Price Target
$76 → $72
Upside
+26.63%
Wells Fargo analyst Stephen Baxter lowered the firm's price target on Centene to $72 from $76 and keeps an Overweight rating on the shares. Q4 results were messy, with higher Medicaid MLR creating a more difficult jump-off point heading into 2025, the firm says. Earnings power recovery remains a significant opportunity but visibility to pacing and clarity on political backdrop will each take some time, adds Wells.
John Stansel
JP Morgan
Hold → Buy
2024-12-17
Price Target
$80 → $75
Upside
+29.74%
Scott Fidel
Stephens & Co.
Hold
2024-12-13
Price Target
$75 → $73
Upside
+22.85%
