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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Unitedhealth Grp (NYSE:UNH) based on the price action in the company's shares. Yesterday's price range of $264.42 and $269.83 is within the prior day'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. Traders and investors interested in shares of Unitedhealth Grp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Unitedhealth Grp have traded between a low of $208.07 and a high of $306.71 and closed yesterday at $262.00, which is 26% above that low price. The 200-day and 50-day moving averages have moved 0.17% higher and 0.25% lower over the past week, respectively.

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.

There is potential upside of 4.9% for shares of Unitedhealth Grp based on a current price of $262.00 and an average consensus analyst price target of $274.83. Unitedhealth Grp shares should encounter resistance at the 50-day moving average (MA) of $291.42 and support at its 200-day MA of $257.72.

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: bullish am inside day candle unitedhealth grp

Ticker(s): UNH