lauralea

Head and Shoulders

NYSE:CNC   Centene Corporation
I mostly look at charts, but this one being in the healthcare industry, confuses me as those have been doing well..

I got in this one at support, was way up, saw what was happening and got out with haste, although I made a little profit, I lost profit by not getting out sooner..when I see I am in trouble I place a stop..which rarely helps cos I end up losing a bit more by getting stopped out. I learned a lesson on this one..Get out when my gut tells me to get out (o:

Head and shoulder are an ominous sign at the top...but sometimes you can not know until the RS has formed and a pull back begins. You are sliding right along and then Boom..that H&S will knowck you down like a brick wall when you run in to it!

This may not go any further under the support of the neckline, but has tested it.. Thank goodness I got out a distance above that, but I do not like seeing retests of support like that..I am not buying this support and will wait..if it makes a bullish move up or the 5MA corsses up and through the 20MA, I may consider it..

Short interest is not high at all in the scheme of things..NV and OBV are slacking off

Not a recommendation
Comment: Recently oversold on daily rsi.