UnitedHealth Group Inc. (UNH) Trading Idea for 28/12/2023Healthcare provider UnitedHealth Group Inc. is diversifying its business. Following the acquisition of the home health services company LHC Group for $5.4 billion earlier this year, the company also has plans to acquire another home healthcare company, Amedisys, for $3.3 billion. These strategic investments will help strengthen UnitedHealth Group's position in the rapidly expanding senior care market.
Therefore, today, we direct our attention to the UnitedHealth Group Inc. (NYSE: UNH) stock chart.
On the D1 timeframe, support has formed at 515.87, with resistance at 549.42. A relatively wide channel has developed within the descending trend. Considering the prevailing investor sentiment amid the US Federal Reserve's softened rhetoric, the trend for this asset may change upward if the quotes solidify above the 528.65 level.
On the H1 timeframe, if there is a rebound from the level of 515.87, the short-term target for the price increase can be set at 528.68, while in the medium term, it could hover around 554.09.
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