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UNH Elliott Wave Analysis Trading Lounge Daily Chart, 20 March 2024

UnitedHealth Group Inc., (UNH) Daily Chart

UNH Elliott Wave Technical Analysis

FUNCTION: Counter Trend

MODE: Corrective

STRUCTURE: Complex

POSITION: Intermediate wave (Y).

DIRECTION: Wave (Y) of 4.  

DETAILS: Looking for a bottom in wave (Y) or else we are aware that we could also be in a wave (C) of a triangle. As long as we bounce back and forth 500$, we should see further upside in the future.

UNH Elliott Wave Analysis Trading Lounge 4Hr Chart, 20 March 24

UnitedHealth Group Inc.,  (UNH) 4Hr Chart

UNH Elliott Wave Technical Analysis

FUNCTION: Trend

MODE: Impulsive

STRUCTURE: Motive

POSITION: Minute wave {i}.

DIRECTION: Completion of wave {i}.  

DETAILS: Exploring the possibility of a impulsive move off the 468$ bottom. Looking for a completion of a five wave move in wave {i} at 500$ to then pullback in {ii}.

Welcome to our UNH Elliott Wave Analysis Trading Lounge, where we provide comprehensive insights into UnitedHealth Group Inc. (UNH) using Elliott Wave Technical Analysis. Let's delve into the market dynamics as of the Daily Chart on 20th March 2024.

* UNH Elliott Wave Technical Analysis – Daily Chart*

Our analysis reveals a countertrend function characterized by corrective mode and complex structure, positioned in Intermediate wave (Y). The direction indicates Wave (Y) of 4, suggesting a potential bottom in this wave. Alternatively, we consider the possibility of Wave (C) of a triangle formation. As the price oscillates around $500, we anticipate further upside movement in the future.

* UNH Elliott Wave Technical Analysis – Daily Chart*

Here, we identify a trending function marked by impulsive mode and motive structure, positioned in Minute wave {i}. The direction indicates the completion of wave {i} off the $468 bottom. We explore the possibility of an impulsive move, expecting a five-wave completion in wave {i} around the $500 mark, followed by a pullback in wave {ii}.

Technical Analyst: Alessio Barretta

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