UNH Elliott Wave Analysis Trading Lounge Daily Chart,
United Health Group Inc.,(UNH) Daily Chart
UNH Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minor wave 5.
Direction: Upside within wave 3.
Details: Looking for a bottom in wave 4 to be in place or near completion and consequently further upside towards MediumLevel at 650$.
United Health Group Inc., (UNH) 1H Chart
UNH Elliott Wave technical analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Minute wave {iii}.
Direction: Upside in wave {iii}.
Details: Looking for a potential {i}-{ii} completed within wave 5 as I can identify five waves within {i}. We now need tested support on top of 600$.
This Elliott Wave analysis for United Health Group Inc., (UNH) examines both the daily and 1-hour charts to assess its current market trend, utilizing Elliott Wave Theory to anticipate potential future movements.
UNH Elliott Wave technical analysis – Daily chart
On the daily chart, United Health Group (UNH) is completing or has nearly completed wave 4, suggesting that the next upward move in Minor wave 5 is approaching. This upward movement is expected to target the MediumLevel at $650. The correction in wave 4 appears to be finishing, and once confirmed, the continuation of the uptrend towards higher levels can be anticipated.
UNH Elliott Wave technical analysis – One-hour chart
On the 1-hour chart, UNH seems to have completed a five-wave move in wave {i} of Minor wave 5. Currently, wave {ii} might be in progress, and once a solid support level above $600 is established, the stock should resume its upward movement into wave {iii}. Testing this support zone will be crucial for confirming the next leg higher.
Technical analyst: Alessio Barretta.
UNH Elliott Wave technical analysis [Video]
As with any investment opportunity there is a risk of making losses on investments that Trading Lounge expresses opinions on.
Historical results are no guarantee of future returns. Some investments are inherently riskier than others. At worst, you could lose your entire investment. TradingLounge™ uses a range of technical analysis tools, software and basic fundamental analysis as well as economic forecasts aimed at minimizing the potential for loss.
The advice we provide through our TradingLounge™ websites and our TradingLounge™ Membership has been prepared without considering your objectives, financial situation or needs. Reliance on such advice, information or data is at your own risk. The decision to trade and the method of trading is for you alone to decide. This information is of a general nature only, so you should, before acting upon any of the information or advice provided by us, consider the appropriateness of the advice considering your own objectives, financial situation or needs. Therefore, you should consult your financial advisor or accountant to determine whether trading in securities and derivatives products is appropriate for you considering your financial circumstances.
Recommended content
Editors’ Picks
EUR/USD stays weak below 1.0950 ahead of Fedspeak
EUR/USD stays defensive and edges lower toward 1.0900 on Monday. Broad risk aversion, amid the escalating geopolitical tensions in the Middle East and conflicts between China and Taiwan, underpin the safe-haven US Dollar as markets await Fedspeak.
GBP/USD retreats to 1.3050 area as markets turn cautious
GBP/USD trades modestly lower on the day near 1.3050, struggling to build on Friday's modest gains. Sustained US Dollar strength, due to looming geopolitical risks worldwide and China's economic concerns, doesn't allow the pair to gain traction.
Gold price draws support from hopes for additional Fed rate cuts, stronger USD caps gains
Gold price attracts some dip-buying on the first day of a new week and trades near a one-week top, around the $2,660 region heading into the European session. The US PPI pointed to a favorable inflation outlook and suggested that the Fed will cut interest rates further.
Five Fundamentals for the week: Explosive Middle East, ECB decision and US Retail Sales stand out Premium
Even on a bank holiday, markets are on the move. Concerns about Chinese stimulus and the Middle East stir markets, but the calendar offers several important events with the potential to shake things up. Here are five fundamentals for the week starting on October 14.
RBA widely expected to keep key interest rate unchanged amid persisting price pressures
The Reserve Bank of Australia is likely to continue bucking the trend adopted by major central banks of the dovish policy pivot, opting to maintain the policy for the seventh consecutive meeting on Tuesday.
Five best Forex brokers in 2024
VERIFIED Choosing the best Forex broker in 2024 requires careful consideration of certain essential factors. With the wide array of options available, it is crucial to find a broker that aligns with your trading style, experience level, and financial goals.