UnitedHealth Group Inc. (NYSE: UNH) shares rose in value Wednesday Nov 30 with lower trade volume than normal after a number of analysts weighed in on the investing value of the stock with a upgraded rating.
Meanwhile, the Dow Jones Industrial Average hit an intraday record after opening higher Wednesday, led by the energy sector as hopes rose that the world’s major oil producers are near a deal on limiting output.
The benchmark S&P 500 and Dow were on track to post their largest monthly gains since March.
The S&P 500 SPX, +0.22% gained 5 points, or 0.2%, to 2,209. The Dow Jones Industrial Average DJIA, +0.41% added 62 points, or 0.3%, to 19,184, trading in record territory. The Nasdaq Composite COMP, -0.08% was 7 points, or 0.1%, higher at 5,386.
Analysts at Mizuho upgraded shares of UnitedHealth Group Inc. (NYSE: UNH) from Neutral to Buy today. With a rating of Buy on the shares, the company has a 52-week high of $158.25. A number of other analysts have spoken on the stock recently, and UnitedHealth Group Inc. has secured a consensus one-year price target of $164.05, higher than the opening price of $157.47. Stock prices often move to the upside on recommendations and new price targets of professional brokerage firms.
Shares of UnitedHealth Group Inc. (NYSE: UNH) opened at $157.47 on Tuesday and has traded in a range between, $157.07 and $158.25, and last traded at $157.87, an increase of $0.90 or 0.58% compared to the previous closing price.
UnitedHealth Group Inc. (NYSE: UNH) currently has a market cap of 150.26B.
UnitedHealth Group Inc. (NYSE: UNH) Average Daily Trading Volume
796,793 shares crossed the trading desk yesterday, lower than the average, out of a total float 886,274,000. Trading volume is likely to increase in the next few days as investors often use swings in trading volume to identify large volume accumulation or circulation by institutional investors.
As with all potential breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
UnitedHealth Group Inc. (NYSE: UNH) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow investors to make those trends work in their favor and increase the number of winning trades.
With that in mind, UnitedHealth Group Inc. (NYSE: UNH) now has a 50-day MA of $143.81 and 200-day MA of $139.88. It has traded in a 52-week range between $107.51 – 158.25 and today’s last price is 0.24%% lower than the 52 week high of $158.25.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors look for companies that have raised their earnings at least 25% or more over 3 consecutive years.
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