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Possible Bearish Inside Day Candle Pattern Detected for Unitedhealth Grp (NYSE:UNH)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Unitedhealth Grp (NYSE:UNH) based on the price action in the company's shares. Today's price range of $229.44 and $229.44 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Unitedhealth Grp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 19.8% for shares of Unitedhealth Grp based on a current price of $229.44 and an average consensus analyst price target of $274.83. The stock should find initial resistance at its 50-day moving average (MA) of $247.22 and further resistance at its 200-day MA of $258.11.

UnitedHealth Group Incorporated owns and manages organized health systems in the United States and internationally. The Company provides employers products and resources to plan and administer employee benefit programs. UnitedHealth also serves the health needs of older Americans, provides specialized care services, and provides health care information and research to providers and payers.

In the past 52 weeks, Unitedhealth Grp share prices have been bracketed by a low of $208.07 and a high of $287.94 and are now at $229.44, 10% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Unitedhealth Grp and will alert subscribers who have UNH in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle unitedhealth grp

Ticker(s): UNH