| 2016-10-17 14:47:52|
UNH 14:47 10/17 10/17/16
UnitedHealth technical notes before earnings news, topping process underway
The shares have been in a shallow downtrend since late September of this year. On a 1-year daily chart, closing price basis, this downtrend is part of a larger topping process that is underway. A move below $130 on negative news would void support going back to May of this year. Additional support levels to watch in that event as potential downside objectives would be at $128.53 and then at $125.26. If the news is a positive surprise, a move above the $137 area would break the downtrend resistance line. Next resistance would then be at $140.51, $142.85, and the 52-week high at $144.48.