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Should You Buy This Unstoppable Healthcare Stock?

It was reported that the UnitedHealth Group stock price gained 6.25 percent on the previous trading day (Tuesday 21st June 2022) increasing to $452.06 up to $480.32. The price fluctuated 6.13 percent, from a day low of $457.10 up to a peak of $485.12. The price has dropped over the past 10 days and is now down by -2.01 percent over this time. The volume has increased over the final day, along with the price which is a good technological sign. Also, in all, 461 000 extra shares of shares exchanged compared to the day prior. In all 6 million shares were purchased and sold at a price of $2.75 billion.

The stock is located at the center of a broad and declining trend over the next few months and a further decline inside the current trend can be evident. With the current trend the stock is likely to decline -10.08 percent over the next 3 months , and it is expected to, with 90% likelihood, it will be at the price between $405.67 and $456.32 by the end of the 3-month time frame. Be aware that if the remains at its current levels or rise then our forecast target for the stock will begin to shift positively in the coming days, as the requirements for the current forecasts will be breached.

Signals & Forecast

An order to buy was sent from a pivot’s bottom point on the 17th of June 2022. As of now, so far, it has increased 6.25 percent. A further rise is expected until a new pivot is found. The volume is increasing and the price is rising. This is believed to be a favorable technical indicator. There were some negative signals in addition, and they might have an effect on the short-term direction. UnitedHealth Group stock UnitedHealth Group stock holds a buy signal from the moving average for short-term time but at the same that the long-term moving average is an overall sell signal. Since the average for the long term is higher than the short-term mean, there is an overall sell signal for the stock, which is indicating a more negative outlook for the stock. In the event of further gains the stock could face some resistance against the longer-term mean at $487.09. In the event of a decline the stock could be able to find some relief from the average of the short-term at $466.98. Breaking between the long-term average could bring another buy signal and a drop below the short-term mean will provide another sell signal and increase the overall signal. In addition, there’s an indication of selling from the three-month moving average convergence divergence (MACD).

Support, Risk & Stop-loss

UnitedHealth Group finds support from the accumulation of volume at $478.80 and that level could provide a buying opportunity since an upwards trend can be anticipated as the support is being test.

The stock moves on average during the day . With an abundance of trading activity and a high risk of loss, it is considered to be moderate. In the past 24 hours the stock traded $28.02 between low and high at 6.13 percent. In the past month, it been able to maintain a daily average volatility of 3.13 percent.

Our recommended UNH Price Target stop-loss amount is $460.34 (-4.16 percent) (This stock is a medium daily fluctuations and that means it has moderate risk. A buy signal is evident via a bottom pivot discovered one day ago.)

Market Expectations Regarding The Next Trading Day Of Wednesday 22nd

In the coming trading day on the 22nd of March we anticipate UnitedHealth Group Incorporated to open at $474.18 and then during the daytime (based on the 14-day Average True Range) the price will move in the range of $466.56 and $494.08 that gives the possibility of trading at +/-$13.76 (+/-2.86 percent) either up or down from the last close price. In the event that UnitedHealth Group Incorporated takes out the full potential range of swings, there could be an estimated 5.73 percent difference from the lowest to highest price traded during the day.

As the stock is close to the support of the accumulated volume of $478.80 (0.32%)) than the resistance of $488.01 (1.60 percent) Our system sees the risk-reward ratio of trading intra-day as appealing and believes that profit could be earned before the stock crosses the the first level of resistance..

Are UnitedHealth Group Incorporated stock A Buy?

UnitedHealth Group holds several positive indicators, but we do not believe that these are sufficient to warrant an investment candidate to buy. At this point the stock should be considered as a potential hold potential (hold and accumulate) at this time, while we wait for more developments. We have updated our analysis of this stock since our last analysis from an Sell to a Hold/Accumulate potential.

The current score is -0.099