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UnitedHealth - Daily

Chart & Data from IG

By Minipip
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UnitedHealth - expected to report earnings of $6.33 on revenue of $91.42bn.

UnitedHealth is due to report earnings tomorrow as it begins major earnings alongside banks. Currently, its shares are trading at around $523.68 a share. We can see that the price has approached a resistance level of $526.31, which is proving to be challenging (left oval). The price has tried to break above but so far has been rejected (right oval). A break above this resistance could potentially see a rise towards the upper trendline of the triangle, where the key resistance level rests at $538.50. Perhaps a positive earnings report may provide a momentum boost. Down below, support sits at $517.15 (yesterday’s low). A slip below may see a further move lower towards the cluster between $507-$510. At the time of writing, the trendline support remains in place so there is room for any drastic slippage in the mid-term. Looking at the technical indicators at the bottom of the chart, both are positive with the RSI reading 64. Although, the RSI has dipped slightly.

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