marketinsider
Long

CNC to break 2+ year resistance, move on to new all time highs..

NYSE:CNC   CENTENE CORPORATION
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.
Trade closed: target reached: Our target of $93 was reached yesterday, though the order was filled at $95 because of a gap higher on the day. A tidy gain of 14% in 27 days.
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