Undervalued amongst sector. Reports in about 2weeks. Should react nicely when $ANTM reports this week.
P/E of 9 vs. 20-28 (sector competitors)
Summary: Worst case already built in, has plenty of upside leading up to earnings end of month.
since 10th May peak, the stock was on bearish trend. As of 6th October is breakout the slope, went back for 1 day but break out again, confirming a trend reversal.
MA50 line is tested and rejected several time in the past 2 weeks but following fibo levels, I believe we look at a climb to 215-220 range before earnings on 4th Nov.
Earnings will define the story onwards
UNH and other healthcare stocks such as Anthem, Cigna, etc. could be a potential area that benefits from those flocking from higher volatility areas that have earnings this week that are looking for some high quality value that were once "growth" stocks. I think UNH at least goes back to $250 area within the next week or so. I'm holding call options. Good luck! UNH
$CI Cigna working out of a triangle continuation pattern today to the upside - after a bullish 50d/200d ema Golden Crossover last week.
Near term target - $200
Medium term target - $224 (January gap fill)
Note: informational analysis, not investment advice.