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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in UnitedHealth (NYSE:UNH) based on the price action in the company's shares. Yesterday's price range of $135.76 and $136.78 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 may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Potential upside of 3.8% exists for UnitedHealth, based on a current level of $136.61 and analysts' average consensus price target of $141.80. The stock should find initial support at its 50-day moving average (MA) of $127.45 and further support at its 200-day MA of $119.49.

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.

Over the past year, UnitedHealth has traded in a range of $95.00 to $144.48 and closed yesterday at $136.61, 44% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.8% while the 200-day MA has risen 0.2%.

SmarTrend is monitoring the recent change of momentum in UnitedHealth. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of UnitedHealth in search of a potential trend change.

Keywords: bullish am inside day candle UnitedHealth

Ticker(s): UNH