UnitedHealth Group (UNH) is a member of the Dow Jones Industrial Average. Lots of attention has been paid to this narrow index of 30 major companies in the past month or so as the big round number of 20,000 has dominated market reports. Are you ready to see to new highs? Let's check the charts and indicators.
This one-year daily chart of UNH, below, is pointed higher. Prices are above the rising 50-day moving average line and the rising 200-day moving average line. UNH tested the 50-day average line in May and November and again this month and it looks like all of these "tests" were buying opportunities.
The On-Balance-Volume (OBV) line has been choppy since October but it won't take much to push the OBV line to a new high. The trend-following Moving Average Convergence Divergence (MACD) oscillator is now narrowing towards a fresh buy signal.
This three-year weekly chart of UNH, below, is bullish. Prices are above the rising 40-week moving average line, but not too far above it. The weekly OBV line shows a more positive story than the daily chart. The MACD oscillator has been bullish since March. The two averages that make up this indicator have narrowed but they have not crossed yet and maybe they won't cross. It all depends on the price action.
This long-term Point and Figure chart of UNH, below, is also bullish for a number of reasons. Prices are in an uptrend. There are no signs of distribution or a top and the next upside price objective from this chart is $211. It will take a decline below $150 on the daily bar chart (first chart above) to turn the chart downward.