UnitedHealth Group (UNH) has moved steadily higher from its early 2016 low. Prices broke out of a consolidation pattern this month and the new price highs this year are not finished, according to our charts and indicators.
In this daily bar chart of UNH, below, we can see that prices have spent the bulk of the past 12 months above the rising 50-day moving average line. The 200-day moving average has been rising all year. The On-Balance-Volume (OBV) line turned up in November and its rise supports and confirms the price strength this year. Momentum has slowed from November to March but this bearish divergence is probably not going to be a barrier to further price gains.
In this three-year weekly chart of UNH, below, we have a bullish setup. UNH is above the rising 40-week moving average line. The OBV line on this timeframe is neutral to positive and the MACD oscillator is bullish, too.
This Point and Figure chart of UNH, , shows a pretty amazing uptrend. Prices made a fresh breakout at $166 and $215 is the next potential upside target.
Strategy: If long UNH from lower levels, hold and raise your sell stop to under $160 for now. If flat or not long enough look to buy UNH at current levels and risk below $160. Our current upside price objective is $215.