In laying out his game plan for earnings this week during Monday night's Mad Money program, Jim Cramer said that he was bullish on UnitedHealth Group Inc. (UNH) , the health plan provider that has been benefiting from delayed medical procedures.
Let's check out the charts and indicators for UNH, which is set to report quarterly earnings on Wednesday.
In this updated daily bar chart of UNH, below, we can see that the shares have been making higher lows from late March. UNH has also made higher highs in April and June so we are "due for" a higher high very soon. Prices are above the rising 50-day moving average line and the rising 200-day moving average line.
The On-Balance-Volume (OBV) line shows a leg higher from October and a second leg higher from March. This strength in the OBV line is foreshadowing new price highs, I believe, in the near future.
The Moving Average Convergence Divergence (MACD) oscillator is neutral and hugging the zero line. A turn higher in price for UNH will turn the MACD oscillator positive.