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This Foreboding Sign Looms Over UnitedHealth Group's Chart

Published 31/01/2023, 14:48
Updated 31/01/2023, 16:11
© Reuters.  This Foreboding Sign Looms Over UnitedHealth Group's Chart

© Reuters. This Foreboding Sign Looms Over UnitedHealth Group's Chart

Benzinga - If history is any guide, there may be trouble ahead for shares of UnitedHealth Group (NYSE:UNH). A so-called "death cross" has formed on its chart and, not surprisingly, this could be bearish for the stock.

What To Know: Many traders use moving average crossover systems to make their decisions.

When a shorter-term average price crosses above a longer-term average price, it could mean the stock is trending higher. If the short-term average price crosses below the long-term average price, it means the trend is lower.

Why It's Important: The 50-day and the 200-day simple moving averages are commonly used.

The death cross occurs when the 50-day moves below the 200-day. This could mean the long-term trend is changing.

That just happened with UnitedHealth Group, which is trading around $500.22 at publication time.

Remember: Seasoned investors don't blindly trade Death Crosses.

Instead, they use it as a signal to start looking for short positions based on other factors, like price levels and company fundamentals & events.

For seasoned investors, this is just a sign that it might be time to start considering possible short positions.

With that in mind, take a look at UnitedHealth Group's past and upcoming earnings expectations:

QuarterQ4 2022Q3 2022Q2 2022Q1 2022
EPS Estimate 5.17 5.42 5.20 5.37
EPS Actual 5.34 5.79 5.57 5.49
Revenue Estimate 82.59B 80.50B 79.68B 78.76B
Revenue Actual 82.79B 80.89B 80.33B 80.15B

Also consider this overview of UnitedHealth Group analyst ratings:

Do you use the Death Cross signal in your trading or investing? Share this article with a friend if you found it helpful!

This article was generated by Benzinga's automated content engine and reviewed by an editor.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

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