Choosing an entry on UNH
After strong earnings and a guidance upgrade, I've just been waiting for an entry point on UNH .
Today we are oversold on the hourly RSI and stochastic , and I'm seeing a little bullish divergence coming in on the hourly MACD histogram. We've got support at 254.44 from the 20-day moving average, though there's not a lot of volume located here on the volume profile . I've taken a small long position here, and I'll buy more if we get down closer to 250, where there's more volume and also support from the 50-day and 200-day moving averages.
Today we are oversold on the hourly RSI and stochastic , and I'm seeing a little bullish divergence coming in on the hourly MACD histogram. We've got support at 254.44 from the 20-day moving average, though there's not a lot of volume located here on the volume profile . I've taken a small long position here, and I'll buy more if we get down closer to 250, where there's more volume and also support from the 50-day and 200-day moving averages.
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UNH is near 200-hour moving average at 252.26, another strong entry level.
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Here's the MACD cross that confirms UNH is likely to hold the third trendline.
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UNH dropped right out of its channel this morning, but quickly rallied back into the channel after taking a bounce off high-volume support. Here's a possible revised channel:
