United Health Is Close to the 50 Day Moving Average

Published on Wednesday, 13 June 2012 07:24 Written by TradersHuddle Wire

New York, June 13th (TradersHuddle.com) - United Health Group Incorporated (NYSE:UNH) closed the trading day at $57.84, near its 50 day moving average that is set at $56.87. United Health's price action is just above this important support level, providing 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.

The peaks and troughs algorithm shows calculated support at $53.78 and calculated resistance at $58.39. These levels should also be evaluated when planning trades, as they provide an insight into the latest price action.

Traders wanting to establish a position on United Health should look for evidence of buying near the 50 day moving average, and open this position as close as possible to this important level. Also, they need to consider the latest range defined by the peaks and troughs algorithm for insights on other key levels that might impact an upside or downside move.