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UnitedHealth Group Trend May Be Changing as Price Just Breached Below Its 20 Day Moving Average

UNH

The Hourly View for UnitedHealth Group

  • At the time of this writing, UNH’s price is up $0.28 (0.07%) from the hour prior.
  • This is a reversal of the price action on the previous hour, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 20 hour timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on UnitedHealth Group. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly 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

  • At the moment, UNH’s price is up $2.85 (0.69%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as UnitedHealth Group has now gone up 8 of the past 10 days.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • 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 above it. The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between UNH’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in UNH’s price.

Below is a daily price chart of UnitedHealth Group.

UNH