UNITEDHEALTH GROUP INC. - UnitedHealth Group Incorporated - 10/11/2023 (GMT)

Shares of UnitedHealth Group Incorporated (symbol ‘UNH’) rose by around 10% in the third quarter of the year, completely covering the losses incurred in the second quarter.  The company’s earnings report for the fiscal quarter ending September 2023 is expected to be released on Friday 13th of October, before market open. The consensus EPS is $6.33, against $5.79 of the same quarter last year. 
 
‘Despite the recent increase in the share price, the company has a mixed image when it comes to its financial condition. On the one hand the net income has consistently grown in the last 2 consecutive years , but on the other hand the debt has also grown around 29.41% year over year and consists of almost one third of the total liabilities as of 30/06/2023. The current ratio has dropped to 80% while the total assets outweigh total liabilities at a ratio of 1.7 : 1‘ said Antreas Themistokleous, trading specialist at Exness.
 
From the technical analysis perspective the price has been testing the boundaries of the Bollinger bands indicating that there is strong volatility in the market for the share of the company. The Stochastic oscillator is in the extreme overbought levels for the last 14 consecutive sessions on the daily chart hinting on a probable correction to the downside. 

The price might try to retest the previous high around $530 before possibly correcting to the downside given that the 50 days moving average is still trading above the 100 day moving average meaning that the overall bullish momentum is still valid for the time being.