As the stock market presses higher and several important indices are at new highs, one stock (and sector) continues to lag.
Stock: UnitedHealth Group (NYSE: UNH) Sector: Health Care Sector (NYSEARCA: XLV)
We’ll focus on the the stock UNH, but it’s also worth noting that the sector (XLV) is also near its lows.
The key word “also”… Yes, UnitedHealth (UNH) has been in a funk and has made new marginal lows but needs price to hold here to avoid another breakdown.
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$UNH UnitedHealth Group Chart
This picture (chart) says it all. UNH has dropped from over $600 to $250. Yikes. Continued selling would mean further downside. BUT, if price can hold here we could see a counter-trend rally.
Twitter: @andrewnyquist
The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
