1. Price levels are working great on the stock
2. Weaker than the market
3. globally uptrend locally downtrend
4. confirmed by many touches
5. distant test
6. approaching with big bars
7. has the energy
8. the instrument will spend the whole ATR to break the level
9. point of the trend reversal
10. Potential more than 10 to 1
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.
I am not personally taking this trade. :-)
It's a little 'longer term' around the 5-6 month time frame.
If you have 1-2 years on this one, back into the $220's seems reasonable. You could also use protective puts to keep you into this trade, rather than a stop. :-)