UNH (NYSE) - Be Carefull for retracementGreetings
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Strategy
- Please care for Money Management
- Have a good psychology
- Do not be hurry to open position
- Evaluate and upgrade your trading plan
UNH (NYSE) - Be Carefull for retracement
UNH trade ideas
UNH Short William Alligator : the stock is in a bullish position because the candle sticks are above the Teeth, Lips and Jaw and the lines are “eating with an open mouth” and this indicates that the stock is in a strong uptrend.
MACD : the line is above the signal line, this is a bullish confirmation. Moreover, the green vertical bars indicate that the price is decreasing.
Candlestick patterns : there is a shooting star which is a bearish confirmation.
Overall : it can be interesting to take a buy position because all the indicators indicate that the price is increasing and will continue like that. Better taking a short-term position because there is a shooting star. Entry price is higher than the current price for assurance, stop loss is set at -2.5%.
UNH trade 4/1/20market outlook:
-Vixcentral: contango, no overt flattening of curve from M1-3 for the past week
-VIX bouncing between 22-24 the past week which may indicate slow steady growth of SPY
-SPY on up-trend, not overextended based on 20EMA
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UNH - united health grp
Almost correlates to SPY - went down when SPY went down but did not recover as much as the SPY in the past few months
On 1H chart,
a) just broke out of a 2 week triangle
b) just crossed a resistance
c) Crossed resistance with a hammer
d) Crossed resistance with high volume and a volume ramp
e) prior to hammer, there was a series of 4 green candlesticks that almost looks like 3 white solders pattern
UNH - United Healthcare Overpriced?United Healthcare is trading between the upper Bollinger bands and upper Keltner channel bands and it couldn't be at a better time. The topic of the affordable care act is now making headlines as Republican-led states and the Trump administration voice their case to the Supreme Courts today, claiming that the Affordable Care Act Mandate is unconstitutional. While the outcome of this case is still pending and may not have an impact on the stock, United Healthcare has been known to react whenever there is a potential change in how Americans receive healthcare. Today, President elect Joe Biden made a speech in favor of keeping and protecting the affordable care act. Let's see if any of these recent events surrounding the affordable care act have an effect on United Healthcare's stock over the next few days.
Just looking at the charts, my opinion is that the stock is overpriced. The stock is trading higher relative to the exponential moving average on the chart. So, any news related to the Affordable Care Act supreme court case could encourage a sell off.
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