UNH - UnitedHealth Group $108.75 -0.31 (+2.63)

UnitedHealth Group forms and operates markets for exchanging health and well-being services. UNH provides both comprehensive managed care services, such as HMO and carrier replacement products, and unbundled health care management and cost containment products and services. Prior to Halloween, investors were treated with a record earnings report from the company and a stock split announcement. UNH posted quarterly earnings of $1.08 per share, a record for the company. Just days before it announced its earnings, the company announced a 2:1 stock split payable on December 22nd, Merry Christmas y'all! On October 30th, the stock hit a new 52-week high of $117.00, which prompted JP Morgan to issue a long-term buy rating on the stock. We see a split run in the making and are looking for higher ground from here. Looking at the chart, we note that UNH has support at the 10-dma at $108.13, followed by the 20-dma at $106.70. Resistance is possible at $110.00 and up at the recent high of $117.00. The average trading volume is 1 million shares but the stock is capable of doubling that amount on breakouts. Use a bounce off support or a bold advance through resistance as an opportunity for a new position. We will place a stop at $103.00 below support.

Picked on November 7th @ $108.75 Change since picked 0.00