📊 What are the key technical indicators suggesting for UNH's short-term price movement?

The key technical indicators suggest a bearish outlook for UnitedHealth Group (UNH) in the short term:

1. Closing Price and Percentage Change: On April 17, 2025, UNH's closing price was $454.11, representing a significant drop of 22.38% from the previous day. This substantial decline indicates a strong bearish momentum.

2. Moving Averages: The stock's 5-day moving average (ma5) was $561.85, the 10-day moving average (ma10) was $558.5, and the 50-day moving average (ma50) was $513.04. The fact that the short-term moving averages are significantly above the long-term moving averages (ma200 at $549.56) suggests a potential for the price to continue downward as they converge.

3. Fibonacci Retracement: The 618 Fibonacci retracement level over the past year was $557.3. The price has dropped below this level, indicating a potential continuation of the downward trend as it could be seen as a strong resistance turned support level.

4. MACD and RSI: The Moving Average Convergence Divergence (MACD) was -7.82, and the Relative Strength Index (RSI) was 17.78. These values suggest that the stock is currently oversold, which can sometimes precede a rebound. However, the MACD being negative indicates a bearish momentum.

5. Bollinger Bands: The closing price of $454.11 is near the lower end of the Bollinger Bands at $539.61. This proximity to the lower band suggests that the stock is currently in a weak position and could continue to face downward pressure.
6. Recent Price Movement: The stock has experienced fluctuations with both positive and negative percentage changes in the recent two weeks. However, the most recent change of -22.38% on April 17, 2025, is a strong indicator of the bearish sentiment in the short term.

In conclusion, the combination of the stock price dropping below key technical indicators such as the 618 Fibonacci retracement level and the moving averages, along with the MACD being negative and the RSI indicating overselling, suggests a bearish outlook for UNH's short-term price movement.