We last reviewed the charts of CNC on Oct. 28 and recommended that, "Stand aside on CNC as its charts suggest weakness in the weeks ahead."
Let's go to the latest charts.
In the daily bar chart of CNC, below, we can see how prices behaved in the past four weeks since our last review. The shares bounced temporarily to a slight new high and have quickly given back most of the rebound. Prices are now testing/breaking the rising 50-day moving average line and the flat 200-day moving average line.
The On-Balance-Volume (OBV) line has moved lower this month with the price action and the Moving Average Convergence Divergence (MACD) oscillator is close to crossing the zero line for an outright sell signal.