Technical Earnings Preview: UnitedHealth near life highs before news
The stock has been trading in a range largely bound by a low at the $219 area and a high at the $230 area since November of last year. Price is nearly in the middle of that range ahead of earnings news. If the news is strongly bullish, a breakout above the high of the range at the $230 area as well as the peak high of $231.77 would be highly probable. Without overhead resistance, a run to the $235-$240 area would become the next technical price range objective. If the news is a negative surprise, a drop below the low of the range at the $219 area would also be highly probable given current price. Support levels to watch as potential downside objectives below the range low would be at $216.31, the $210 area, and $202.70. A sharp move that remains below $220 would break the long-term uptrend line that has been in place since November 2016.