UNH Finally Breaking Its Downtrend
UNH is finally breaking above the downtrend in which it has been mired basically all year.
The stock is breaking above its overhead 50-day today on rising volume. A look at the chart also shows the relative strengh line breaking higher.
Although this is part of the larger picture of investors gravitating towards more defensive type stocks, I still think it bodes well for UNH. The stock is inexpensive and still sports high-quality earnings and free cash flow growth.
long UNH
posted by J. Kahn @ 11:31 AM
2 comments
2 Comments:
Nice chart and a good catch. Looks like investors are willing to overlook the options dustup and focus on the fundamentals here.
I think so. The Citi analyst has done a good job dissecting the likely outcomes of the various scenarios. I think the selloff has been overdone relative to the likely impact. As such, I think the stock can continue higher.
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