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Unitedhealth Signal 13/11: Buy The Sell-Off? (Chart)
(MENAFN- Daily Forex) Long Trade IdeaEnter your long position between $332.37 (the intra-day high of its last bearish candlestick) and $343.17 (yesterday's intra-day high).Market Index Analysis
- UnitedHealth Group (UNH) is a member of the Dow Jones Industrial Average, the S&P 100, and the S&P 500 Index. All three indices are near fresh records, but bearish catalysts continue to accumulate. The Bull Bear Power Indicator of the S&P 500 turned bullish but remains well below its previous high.
- The UNH D1 chart shows a price action bouncing off its horizontal support zone. It also shows price action trading between its ascending 38.2% and 50.0% Fibonacci Retracement Fan levels, with a pending breakout. The Bull Bear Power Indicator is bearish with an ascending trendline, nearing a bullish crossover. The average bullish trading volumes are higher than the average bearish trading volumes since reaching its horizontal support zone. UNH corrected as the S&P 500 pushed higher, a bearish trading signal, but bullish catalysts have risen.
- UNH Entry Level: Between $332.37 and $343.17 UNH Take Profit: Between $449.48 and $462.97 UNH Stop Loss: Between $278.22 and $289.21 Risk/Reward Ratio: 2.16
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