By Mill Chart
Last update: Dec 7, 2023
UNITEDHEALTH GROUP INC (NYSE:UNH) has been identified as a Technical Breakout Setup Pattern by our stock screener. This pattern typically occurs when a stock takes a pause after a significant rise, indicating the possibility of a continuation in the trend. While it's impossible to predict with certainty, it might be beneficial to monitor NYSE:UNH.
ChartMill utilizes a proprietary algorithm to assign a Technical Rating to every stock. This rating, ranging from 0 to 10, is computed daily by analyzing a variety of technical indicators and properties.
We assign a technical rating of 8 out of 10 to UNH. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, UNH is only an average performer.
For an up to date full technical analysis you can check the technical report of UNH
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:UNH this score is currently 9:
UNH has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 549.54. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 545.96, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.
Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.
More breakout setups can be found in our Breakout screener.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
UNITEDHEALTH GROUP INC
NYSE:UNH (2/22/2024, 11:39:08 AM)
Starting your investment journey? Navigate the market with confidence! Discover 3 stocks for beginning investors in this article.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Picking the best stocks for beginning investors is crucial as they enter the wo...
UnitedHealth Group (UNH) closed at $521.06 in the latest trading session, marking a -0.09% move from the prior day.
UnitedHealth (UNH) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Medtronic is set to report its Q3 FY24 results, with high expectations following strong performances from its peers in the MedTech sector. Read more here.
Beware of these companies, each of which has big problems and is seeing its share price decline lower and lower.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips The Dow Jones Industrial Average is near record highs as the stock rally that b...
With market volatility on the horizon, now is an optimal time to diversify your portfolio with 3 striking dividend stocks for February 2024.
CVS, Humana and other insurers are getting dogged by higher medical costs. Meanwhile, 23andMe has a tough road ahead.