This is the third time I have analysed CNC in the last few months. First in December 2014 - then again about a month ago. I have been waiting to see how CNC reacted to the February 2015 stock split which, so far, has been positive.
Yesterday saw price break out of a small consolidation. Price in the last month has been in a short range - but did spike down to almost $65. This should not have caused any concern for longer-term trend traders, but was unusual activity. Since then price has moved sideways until yesterdays break out bar. This bar was very bullish and with slightly higher volume.
However, earnings are due out in a few days time (28th April) so I will be standing aside until then. Once this data has shown itself to the market I will reconsider a buy for CNC.
Yesterday saw price break out of a small consolidation. Price in the last month has been in a short range - but did spike down to almost $65. This should not have caused any concern for longer-term trend traders, but was unusual activity. Since then price has moved sideways until yesterdays break out bar. This bar was very bullish and with slightly higher volume.
However, earnings are due out in a few days time (28th April) so I will be standing aside until then. Once this data has shown itself to the market I will reconsider a buy for CNC.
