Daily Stock Report

UnitedHealth Group Inc. - (UNH) - December 15, 2021 

Benefitting from a defensive shift in investor sentiment lately and renewed capital flows into defensive sectors, UnitedHealth (UNH) has returned to the Green Favored Zone of the SIA S&P 100 Index Report for the first time since about this time a year ago. Yesterday it finished in 23rd place, up 8 spots in the last week, and up 14 positions in the last month. 

For over a year, UnitedHealth (UNH) has been under accumulation, advancing in a step pattern of rallies followed by periods of consolidation at higher levels. After consolidating through November, UNH has embarked on a new rally phase this month, climbing to new all-time highs and advancing toward the $500.00 round number.

Measured moves from previous trading ranges suggest potential upside resistance on trend may appear near $495.00, $515.00, $522.50 and $535.00. Initial support appears near $450.00, then the 50-day moving average near $445.00.   

After spending the summer and early autumn consolidating gains made in the spring, UnitedHealth (UNH) shares have come under increased accumulation lately. Last month, the shares broke out to a new high, completing a bullish Double Top that signaled the start of a new upleg. The shares continue to climb, establishing a bullish High Pole. 

Initial upside resistance may appear near the $500.00 round number, followed by $534.95 and $556.55 based on horizontal and vertical counts. Initial support appears near $438.85 based on a 3-box reversal.  

With a perfect SMAX score of 10, UNH is exhibiting strength across the asset classes. 

Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.