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- United Health stock price has hit an all-time high of $553.9 per retracement level.
- Investors hardly manage UNH prices above all important moving averages like 20, 50, 100 and 200.
- The digital asset is about to hit its top three times in the last seven months, wait for the breakout.
The UnitedHealth Group Inc. (NYSE:UNH) is one of the most trending digital assets on the US stock market. The given stock has long been a coveted stock price because investors have been accumulating here in every slight decline. Despite several retracement phases over the past weeks, the price action shows a stable directional trend towards the higher zone.
In Wednesday’s letter, the global market had closed in the green mark with more bullish sentiments. Most recently on Monday, the multi-billion dollar merger was completed, with Change Healthcare in conjunction with UnitedHealth’s healthcare services. This merger could be a major reason behind yet another retest of the UnitedHealth stock price to an all-time high.
Since mid-April 2020, the 200 day moving average stood to be a crucial defending zone, as well as, support level of buyers. In the last two years, bears failed several times to pull down the United Stock price below this demand zone. As of now, investors barely manage UNH prices above the all significant moving averages like 20,50,100 and 200 over the daily price chart.
The UnitedHealth stock price action forms the higher-lows above the ascending trendline (above the chart). This key pumping zone supports bulls in reversing bearish trends. In contrast, Digital asset is going to hit its all-time high of $553.9 thrice in the last seven months, this major breakout may give wings to buyers for a more bullish rally.
On Wednesday, the stock price of UnitedHealth closed at $540.22 with an intraday drop of 0.25%. Closer to the supply zone, the MFI indicator started turning lower after rising sharply. On the other hand, MACD continues to move higher in the positive zone in terms of the daily price chart.
Conclusion
The UnitedHealth stock price has reached an all-time high. However buyers got twice as high price rejection at this point. Now it has to be seen whether the buyers are able to break this resistance zone or not.
Support level – $500 and $400
Resistance level – $553
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
