UNH - DAILY CHART Hi, today we are going to talk about the UnitedHealth Group and its current landscape.
UnitedHealth is poised to receive increasing attention from the market as relevant events are taking place. The healthcare company can be benefited from the implied move that Congress will repeal three key Obamacare aspects related to the health industry taxes as part of fiscal 2020 spending bills. News that can boost UnitedHealth next year.
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UNH trade ideas
UNH next trade setupUnited health has reached our previous target, now up 33% from the bottom. We see a breakout on the cards for UNH but maybe a slight pause and consolidation beforehand.
The RSI is very high and 1.272 Fib expansion target may prove to be a stumbling block.
The overall technicals remains very strong as does the Fundamentals.
UNH ShortI think people are being very subjective to the market at this moment. Caution the news coming out. That being said, healthcare sectors from a long term perspective is overbought. I will be shorting UNH for this week. I think there is a good risk reward. I will also be shorting XLV for the long term.