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Recent Insider Activity Suggests Potential Gains for Centene Corp. (CNC)

Centene Corp.’s recent filing unveils that its Director COUGHLIN CHRISTOPHER J unloaded Company’s shares for reported $67382.0 on May 14 ’24. In the deal valued at $76.75 per share,878 shares were sold. As a result of this transaction, COUGHLIN CHRISTOPHER J now holds 0 shares worth roughly $0.0.

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Then, FASOLA KENNETH J sold 8,000 shares, generating $620,960 in total proceeds. Upon selling the shares at $77.62, the President now owns 300,357 shares.

Before that, Robinson Lori Jean sold 10,000 shares. Centene Corp. shares valued at $774,100 were divested by the Director at a price of $77.41 per share. As a result of the transaction, Robinson Lori Jean now holds 11,455 shares, worth roughly $0.8 million.

Robert W. Baird initiated its Centene Corp. [CNC] rating to a Neutral in a research note published on May 30, 2024; the price target was $83. A number of analysts have revised their coverage, including Stephens’s analysts, who decreased its forecast for the stock in late March from “an Overweight” to “an Equal-weight”. Barclays began covering CNC with “an Overweight” recommendation on March 06, 2024. Wells Fargo revised its rating on January 02, 2024. It rated CNC as “an Overweight” which previously was an “an Equal weight”.

Price Performance Review of CNC

On Tuesday, Centene Corp. [NYSE:CNC] saw its stock fall -1.39% to $70.14. Over the last five days, the stock has lost -3.55%. Centene Corp. shares have fallen nearly -5.48% since the year began. Nevertheless, the stocks have risen 5.54% over the past one year. While a 52-week high of $81.42 was reached on 02/26/24, a 52-week low of $60.83 was recorded on 05/29/24. SMA at 50 days reached $74.65, while 200 days put it at $73.28. A total of 2.21 million shares were traded, compared to the trading of 2.71 million shares in the previous session.

Levels Of Support And Resistance For CNC Stock

The 24-hour chart illustrates a support level at 69.55, which if violated will result in even more drops to 68.96. On the upside, there is a resistance level at 70.86. A further resistance level may holdings at 71.58. The Relative Strength Index (RSI) on the 14-day chart is 35.96, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.67, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.61%. Stochastics %K at 34.04% indicates the stock is a holding.

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