$UNH- Potential Breakout for UNH Stock
#204 Breaking out on Mars Uranus Planetary Alignment?
Introduction
$UNH - Is UnitedHealth Group finally breaking out of a two-year consolidation pattern? During the Mars-Uranus conjunction, $UNH was drawn towards the Mars-Uranus planetary conjunction, suggesting a potential breakthrough.
As it bounced off the low from May 29th, 2024, the price target could be $558. The last time the Mars-Uranus cycle reached a high around this conjunction was on August 18th, 2022, hinting that $UNH is now at a significant resistance level.
If $UNH continues to follow the Mars Uranus cycle $UNH may be close to a crest. However, cycles can contract, extend and invert.
Should the price continue to climb above $558, the next milestone could be $577, aligning with the high of June 5th, 2024. Hitting the 2x1 Gann timing line by the end of July may square out the June 5th high. Hereafter, a pullback can occur.
Please remember the quote from W.D. Gann included below.
“Never consider that a major or a minor trend has reversed or changed until the bottoms of previous weeks have been broken or the tops of previous weeks have been crossed. The number of points that a stock or the averages should decline below a bottom to indicate a change in trend to lower levels varies according to the price at which the averages or the stock is selling.” W.D. Gann Stock Market Course
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Disclosure: No direct positions in $UNH at the time of writing.