After Yesterday's Rally of 1.65% Shares Could Potentially Pullback
UnitedHealth (NYSE:UNH) traded in a range yesterday that spanned from a low of $130.31 to a high of $132.88. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $131.79 on volume of 1.0 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
UnitedHealth share prices have moved between a 52-week high of $135.11 and a 52-week low of $95.00 and are now trading 40% above that low price at $132.82 per share. The 200-day and 50-day moving averages have moved 0.15% higher and 0.77% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of UnitedHealth on February 18th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $118.53. Since that recommendation, shares of UnitedHealth have risen 10.0%. We continue to monitor UNH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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