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UnitedHealth Group: «slow and steady wins the race»Show Me the Money! 16 July, 2020, by Vladimir Rojankovski, Chief Analyst, Grand Capital UnitedHealth Group reported a solid quarter in which strength in premiums offset weakness routinely associated by many with COVID. The company reported $62.14 billion in revenue, a slight miss – not by a wide margin, and we tend to play it down when the company is growing its product pipeline. Q2 revenue is up 2.5% from the same period last year and drove a solid increase in net income. EPS, both adjusted and GAAP, beat consensus by double-digits to post near-100% increases from the previous year. The caveat is additional expenditures will reach the company in the 3rd quarter but not enough to impact the full-year guidance. Technically, UnitedHealth is in ascending trend with 320 dollars as interim price target – seemingly not that much of an upside, but they call it «slow and steady wins the race».
NYSE:UNHLong
by VladimirRojankovski
UnitedHealth Inches Toward New HighsUnitedHealth rebounded from the coronavirus crash more quickly than most stocks. It was back above its 200-day simple moving average (SMA) in early April, 1-1/2 months before the broader S&P 500 . Then it stopped and waited, consolidating in a range and doing some important work technically. First, it established support above $270. This was a key pivot from early February. Second, it started making higher lows. Finally, it made new all-time highs and then pulled back slightly. This creates the potential for a quiet breakout in coming sessions. There’s also a potential channel between roughly $273 and $300. The price action since May 27 represents a breakout of that channel, followed by a successful retest. UNH’s fundamentals are also interesting because the coronavirus pandemic has reduced doctor visits. That could lower the health insurer’s medical costs and drive margins higher the next time earnings are released in mid-July. It’s also a member of the Dow Jones Industrial Average , which has been outshining the S&P 500 and Nasdaq-100 lately. Overall, UNH isn’t flashy and hasn’t been moving much. But its chart patterns indicate it may start moving as prices inch back toward new highs.
NYSE:UNHLong
by TradeStation