United Health Close to the 50 Day

Published on Friday, 10 February 2012 06:28 Written by TradersHuddle Wire

New York, February 10th (TradersHuddle.com) - Shares of United Health Group Incorporated (NYSE:UNH) closed the trading day at $53.06 close to its 50 day moving average currently set at $50.82. United Health's price action is just above this important support level translating into a trading opportunity.

United Health Group Incorporated (NYSE:UNH) 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.

Looking at peaks and troughs horizontal support and resistance levels, we can see current calculated support at $50.68 and calculated resistance at $53.61. These levels should also be evaluated by traders when planning their trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on United Health will be looking at the price action for evidence of buying near the 50 day moving average, and opening a position as close as possible to this important level. Also traders will be looking at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.