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Look for Shares of Unitedhealth Grp to Potentially Rebound after Yesterday's 4.70% Sell Off

By David Diaz

Unitedhealth Grp (NYSE:UNH) traded in a range yesterday that spanned from a low of $265.32 to a high of $274.81. Yesterday, the shares fell 4.7%, which took the trading range below the 3-day low of $276.91 on volume of 1.9 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Unitedhealth Grp share prices have been bracketed by a low of $208.48 and a high of $287.94 and are now at $278.55, 34% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

SmarTrend recommended that subscribers consider buying shares of Unitedhealth Grp on April 17th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $238.88. Since that recommendation, shares of Unitedhealth Grp have risen 16.6%. We continue to monitor UNH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders unitedhealth grp

Ticker(s): UNH