During Thursday's Mad Money Lightning Round segment, one caller asked Jim Cramer about Oscar Health (OSCR) : "I don't need this one when I have UnitedHealth Group (UNH) hitting it out of the park," responded Cramer.
We looked at UNH on April 16 and wrote that "Traders should look to buy a shallow two day pullback in UNH. Risk below $365 for now. The $435 area is our first price target."
Let's check in on UNH again.
In this updated daily bar chart of UNH, below, we can see that prices have continued to reach new highs. UNH continues to trade above the rising 50-day and rising 200-day moving average lines.
The On-Balance-Volume (OBV) line has rallied to reach new highs and confirms the price gains. The Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line. Full steam ahead.
In this weekly Japanese candlestick chart of UNH, below, we see a bullish alignment of our favorite indicators - rising 40-week moving average line, bullish OBV line and MACD oscillator.
In this daily Point and Figure chart of UNH, below, we can see our $435 price target again.
In this weekly Point and Figure chart of UNH, below, we can see a projected price objective in the $490 area.
Bottom line strategy: Longs could raise sell stop protection to $380 now and aggressive traders could add to positions if they wish. $435 and then $490 are the price objectives.
