UNH - Strong Long Term Hold (as long as in trend channel)
From a technical perspective, UNH is a strong long term hold, very bring for a trader because it's volatility. UNH has proven itself in a strong bull channel trend, it even respects the channel support the most, and tends to periodically break through channel resistance before returning to the channel.
*Interesting Takes*
1. Rising Wedge - UNH has temporarily broken channel resistance and is starting to form a possible rising wedge if it plays out. If it plays out there will be a nice play for a short opportunity for ~10+ points - returning to the 50 EMA, and the original channel.
2. Double Top - though it is not lining up perfect for a double-top formation, it is pretty close & the volume is starting to cooperate with the potential short opportunity.
*Interesting Takes*
1. Rising Wedge - UNH has temporarily broken channel resistance and is starting to form a possible rising wedge if it plays out. If it plays out there will be a nice play for a short opportunity for ~10+ points - returning to the 50 EMA, and the original channel.
2. Double Top - though it is not lining up perfect for a double-top formation, it is pretty close & the volume is starting to cooperate with the potential short opportunity.