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Strategies & Market Trends : Underexposed Technical Analysis

AQN 6.490

-0.6%

Feb 6 9:30 AM EST

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To: Underexposed who wrote (895)	3/23/2021 8:17:06 PM
From: Underexposed	1 Recommendation Recommended By The Ox Read Replies (1) of 914

I am going to do another full analysis with all my charts...this time it is United Health Group [UNH:NYSE] This is a stock that did well on a bad day (Tues March 23). In healthcare most healthcare stocks went negative except this one...let's try to figure out where this is going. We start with the P&F Chart... In the upper left you see a warning of "Long tail up" which is mildly bearish. It means the stock price has had a long sustained rise and probably it is due for a pullback if not an outright reversal. It should not be ignored but unless I see evidence of a reversal I would ignore it. You can see a rather ambitious target of $456...nice but I would say SHOW ME before I believe that as well... so far mixed messages of fantasy as I see it. The red resistance line looks real enough and we are butt up against it... Passing $372.00 would be huge. The support line is unclear, though $324 looks solid enough though you would hate to see it fall that far. The column SMAs are mildly bearish...the blue line crossed the red but has hooked positive. there is a good chance it will turn bullish if the rise continues. the Trigger chart is quite Bullish as the share price there has breached the red resistance line. As well the 20daySMA has crossed the blue 50daySMA Which also is good The indicators are Bullish as well with the Slow Sto pegged into the 80's and the MACD rising nicely. The BBWidth looks like it will reverse... but that's ok since it would mean only we would be entering a consolidation zone .... no worries as long as Slow Sto stays high or the the Slo Sto falls as well the MACD does as well AND the BBWidth falls to around 5 ...then there may be the end of the run....but that should not happen for a while. the Sentiment chart could not be better....totally Bullish in every respect. One comment on the use of the Parabolic Sar..... Some investors get nervous at the good luck of a solidly rising share price....they don't want to lose a great profit but then they want to follow this glory road of rise. What you can do is place a limit trailing stop loss order based on the position of the last dot of the Par Sar. Or second or third last ....your choice.. As the Par Sar advances you move the limit stop loss order up as well....eventually the share price will touch the par Sar and your order will be executed automatically. I have used this technique with varying success. sometimes though a minor spike will trigger a sale when you don't want it to....so if you try this be careful. Now the Ichimoku chart We are high above the clouds....very Bullish. If you look close in that upper circle you see thin red/blue lines.... the bullish blue line is far above the red one. The On Bal Volume and CCI indicators are Bullish...the CMF though bearish is improving Conclusion Well this is a very positive reading...very little bear in this analysis. I believe this stock will continue its rise breaking those resistances I pointed out earlier....definitely a HOLD with perhaps adding to your holding or if you are new to this stock you might consider buying in now....for me...this stock is a bit rich for my blood :) Good trading UE

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