UNH closes below its opening price unable to hold early session gains


United Health Group Inc. (UNH) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
UNH closes below its opening price unable to hold early session gains
UNH finds buyers again around 259.11
UNH closes within previous day's range after lackluster session
UNH ends the day indecisive
TQ Sentiment
Report Sentiment: 0% Neutral
Technical Forecast:
Overview

UNH ended the week 1.22% higher at 260.36 after losing $1.23 (-0.47%) today. Trading $1.01 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for UNH
Volatility

Friday's trading range was $2.39 (0.92%), that's below last trading month's daily average range of $3.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Support/Resistance

After having been unable to move lower than 259.31 in the previous session, the stock found buyers again around the same price level today at 259.11.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 263.02 where further buy stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for United Health Group Inc.
Condition Forecast Direction Win Avg Worst Best Events
Closed below last periods low TQ Pro Members Only
Very Strong Down Move TQ Pro Members Only
Strong Down Move TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
More market conditions identified for TQ Pro members...
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