UnitedHealth Group May Be Offering a Trading Opportunity With Its Cross Above Its 20 Moving Average

The Daily View for UnitedHealth Group

  • At the time of this writing, UNH’s price is up $0.3 (0.08%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 200 day moving average, resulting in them with price now being below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

UnitedHealth Group’s hourly price chart is shown below.

UNH

The Daily View for UnitedHealth Group

  • Currently, UNH’s price is down $-0.92 (-0.25%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as UnitedHealth Group has now gone down 4 of the past 5 days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on UnitedHealth Group. Given that we see an uptrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning below it. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Below is a daily price chart of UnitedHealth Group.

UNH