$UNH
Added 2024-04-19 15:51:51 +0000 UTCSo why was I bullish on the healthcare sector in spite of the obvious general market topping out....because their charts were not following each other and $UNH is a perfect example.
$UNH consolidated for 2 years in this tight band and then the market rallied for the first 3 months of 2024, $UNH declined fairly aggressively.
$UNH is now moving exactly in opposite step to the $QQQ and $SPY right now.
It has now jumped from $435 to $504 this week and REGAINED its 50 Day MA, while the rest of the market is losing theirs.
I want to see a pull back now at the test of the 200 DAY MA at $508, to one of the white fib levels as shown, this will really show its strength and a hold between the 0.5 - 0.618 Fibs will confirm that this is still in Wave 5.
Comments
Any updates?
Karl
2024-05-30 09:57:44 +0000 UTCseems to have started an breakout impulse wave since 01 May that ran from 478 - 526 until 16 May and then started a wave 2 descent that has pulled back to 0.382 Fib as of 24 May. If it finds support at 0.618 (496), Wave 3 could bounce to 586! (only if it breaks through the 2-year old channel's upper limit at 558. I'm holding and watching.
MK
2024-05-27 02:40:17 +0000 UTCThis performed amazing π€©
Noah
2024-04-19 16:03:36 +0000 UTCFlight to safety / safe haven! It touched 1.1 Price / Sales; was way too undervalued and it's made quite the move post earnings.
Rushabh S
2024-04-19 15:59:32 +0000 UTC
