Here’s a quick X-Ray on $UNH – November 9, 2023
This is Scott with your Chart of the Day. I want to bring your attention to UnitedHealth Group ( NYSE: UNH ).
Despite the market volatility today, UNH ( NYSE: UNH ) printed a nice inside day as it is still holding above that daily 8 exponential period moving average, that’s the orange line here. Every pullback to the 21-day, over the past month and a half, has been a buying opportunity. This stock looks like it has some built-in buyers, with them coming in at the low for support.
Now, if I zoom out here you can see UnitedHealth ( NYSE: UNH ) is building this long-term cup. And I have to think it is probably going to chug up and retest that 555.00 region, which was resistance back here in 2022.
So keep an eye on UNH ( NYSE: UNH ) for a potential trend trade to test the highs from back there in 2022. I think that that is a pretty logical short-term target for this stock.
Free Chart