Playing the Setup in United Health
Published on Thursday, 18 October 2012 07:24 Written by TradersHuddle Wire
New York, October 18th (TradersHuddle.com) - United Health Group Incorporated (NYSE:UNH) closed the trading day at $55.99, near its 50 day and 200 day moving averages currently set at $54.90 and $55.28 respectively. United Health's price action placed the stock above these important levels, which could translate 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.
Although, the price is above important moving averages, it's important to highlight that this is not a prime setup for buying the dip strategy, as the 50 day moving average is currently below the 200 day moving average.
The peaks and troughs algorithm shows calculated support at $50.32 and resistance at $58.29. These levels should also be evaluated by traders when planning their next move, as they provide an insight into the latest price action.
If traders want to establish a long position in United Health, it will certainly be better to wait, given that the stock is technically broken with the 50 day moving average trading below the 200 day moving average. Traders can also look at the current range defined by the peaks and troughs to establish a short trade versus those levels.
- Bulls taking over on Regal-Beloit?
- Is Regal-Beloit Trade Over?
- Bulls and Bears on the Trenches of Regal-Beloit
- Are the Bears Taking Control over Regal-Beloit?
- Regal Beloit Corporation To Present At The Morgan Stanley Industrials & Autos Conference
- Regal-Beloit, Reversal Soon?
- Regal-Beloit Upside Looming?
- Bulls taking Control of Regal-Beloit?
- Regal Beloit Corporation To Present At The Jefferies 2013 Global Industrials Conference
- Regal-Beloit Formed a Bearish Engulfing Candle
Related Partner Headlines
Recent Trading Ideas
Latest Partner Headlines