$UNH - EARNINGS JUST RELEASED -
Added 2024-10-15 10:56:04 +0000 UTC$UNH beat on earnings but is down - 3.7% after missing on one piece of metric:
'Shares of UnitedHealth fell after the healthcare services company reported third-quarter earnings that beat Wall Street expectations.
The company posted adjusted earnings of $7.15 a share on revenue of $100.8 billion, compared with expectations for earnings of $7 a share on revenue of $99.1 billion, according to FactSet.
The stock fell 3.7% to $583 in premarket trading.
That may be because the company missed on one important industry metric: the medical cost ratio. That measures the share of premiums paid out to cover expenses, and it came in at 85.2%, compared with estimates of 84.4%. In the same quarter last year, the medical cost ratio was 85.2%.
The increase was partly due to Centers for Medicare & Medicaid Services funding reductions, the company said, adding that it didn't have any favorable impact from medical reserve development in the quarter.'
I do not think this will have much influence on the chart and we can see that this pull back is only to the 50 Day MA where it is holding right now
Losing the 50 Day MA and we could see a retest of the blue resistance/support line at $558, a hold here and this is a good buy signal to add to catch Wave 5 to $700
