UNH Gaining Pace Above $500

Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.

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UnitedHealth Group Incorporated  (NYSE: UNH) UnitedHealth Group, Inc. engages in the provision of health care coverage, software, and data consultancy services. It operates through the following segments: UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx. The UnitedHealthcare segment utilizes Optum’s capabilities to help coordinate patient care, improve affordability of medical care, analyze cost trends, manage pharmacy benefits, work with care providers more effectively, and create a simpler consumer experience. The company was founded by Richard T. Burke in January 1977 and is headquartered in Minnetonka, MN.

Will UNH Stock Continue to Outperform?

On the daily charts, UNH stock price is trading above the round mark of $500 and is gaining momentum. Moreover, the price action highlights the bulls’ dominance. Furthermore, the stock is trading above the significant moving averages and is close to the immediate resistance zone of $550.

The RSI curve stayed in the overbought zone and showed a bullish divergence indicating the bullish outlook. The MACD indicator shows a bullish crossover and green bars on the histogram suggesting a positive outlook for the upcoming sessions.

UNH Stock Price Prediction 2023

UNH stock is forming higher highs and is gaining traction amid the weak global sentiments. The option chain shows that buyers have persisted in adding long positions and are trying to exceed the gains beyond $600.

UnitedHealth stock price is trading in an uptrend, showcasing a bullish outlook per the technicals and is suggesting that outperformance will continue and UNH stock will retest the neckline of $600 in the upcoming sessions.

At press time, UNH stock price is trading at $536.73 with an intraday drop of 0.20% showing neutrality on the charts. Moreover, the trading volume increased by 0.56% to 1.769 Million and the market cap is $496.435 Billion. Furthermore, Analysts have maintained a strong buy rating with a yearly target price of $595.39 suggesting a growth outlook for the upcoming sessions.

Per the ongoing trend, UNH stock will continue to gain strength and will reach the highs of $600 soon.

Conversely, if the bear army succeds in pushing the stock below $500, it may drag toward $450.

UNH Stock Price Prediction 2024

On the monthly charts, UNH stock is rising and has persisted in gaining strength for the past sessions. Furthermore, UNH stock witnessed the double bottom pattern and a breakout can be anticipated, if stock surpasses the neckline of $550.

The stock was retraced from the round mark of $550 and showed a pullback from the support region of $530. Afterward, stock attained pace and continued to scratch the gains despite multiple efforts of sellers to bring back toward origin.

If buyers succeed in exceeding the gains beyond $580, UNH stock will surpass the supply zone of $620 in the next few months.

On the contrary, UNH stock has a limited downside risk of $470 followed by $450.

UNH Stock Price Prediction 2025

On the 6 months chart, UNH stock showed a bullish engulfing candlestick and showcased the buyers accumulation on the charts. Furthermore, the stock has surpassed the 61.8% Fibonacci retracement zone and is above the mid bollinger band. Additionally, the stock showed a massive vertical spike in the last years and is delivering the bulls dominance.

If buyers continue to dominate, UNH stock will reach the maximum of $650 followed by $680.

Conversely, if the stock fails to surpass the resistance mark of $550, will revert the gains to $400.

Summary

UNH stock price is trading above the significant moving averages and is showcasing the uptrend for the past sessions. Furthermore, the price action is delivering the bullish outlook and is suggesting the outperformance for the next sessions. Per the technicals, UNH stock will continue to dominate the gains and may reach $600 soon.

Technical Levels

Support Levels: $520 and $500

Resistance Levels: $550 and $580

Disclaimer

The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.