S&P 500 Market Outlook: Neutral & Improving
Bullish Trade: UHS $142.60 – Healthcare
The bullish DailyPlay we chose for Wednesday, Aug 29th is United Health (UHS). UHS is part of the Healthcare Sector (XLV). XLV has declined 2.43% lower over the past month and its 1m and 6m trend turned bearish on Aug 23rd while bouncing higher off its $88 support level.
United Health’s 1m and 6m trend turned bullish yesterday and recently bounced higher off its $140 support level. With a technical score of 7 (out of 10), UHS is a strong stock that will likely continue higher.
As a stop loss, if UHS was to trade below $140 for multiple days, this would invalidate our analysis and suggest cutting losses on the trade.
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