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Downtrend Broken Resist.Archive - 9/13/2024 - Sign In to see current Signals. |
United Health Group Inc. (UNH) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the United Health Group Inc. (UNH). During the week, the UNH gave back -2.56 points, or -0.43%, and closed at 594.32 on Friday, September 13, 2024. Weekly volume was -16% below average. UNH is a member of Health Care Sector. Health Care is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry. Long-term trend: [See UNH long-term trend chart] A long-term uptrend had started on October 10, 2008 at 14.51 and reached 607.94 on September 4, 2024. UNH gained -593.43 points, or -4089.80%, in 829 weeks. Price is near the trend high. Medium-term trend: [See UNH medium-term trend chart] A medium-term uptrend had started on April 12, 2024 at 436.39 and reached 607.94 on September 4, 2024. UNH gained -171.55 points, or -39.31%, in 20 weeks. The price is now at the 7.94% retracement level. Weekly Technical Indicators: [See UNH weekly technical indicators chart] Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is above its signal line since May 10, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help. Short-term trend: [See UNH short-term trend chart] A short-term downtrend had started on September 4, 2024 at 607.94 and reached 575.27 on September 9, 2024. UNH lost 32.67 points, or 5.37%, in 5 days. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 582.67 and resistance is at 602.44. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a short-term trend. Daily Technical Indicators: [See UNH daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since September 5, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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