New Plays, Monday, 11/17/2008
HAVING TROUBLE PRINTING?
NEW BEARISH Plays
UnitedHealth Group - UNH - close: 18.89 change: -1.13 stop: 21.05
Why We Like It:
Many of the managed care and healthcare stocks are picking up speed as they reverse lower following last week's bounce. Shares of UNH broke round-number support at $20.00 this morning. Then when UNH bounced midday it failed at the $20.00 level, which is common as broken support becomes resistance.
We are suggesting readers short UNH here with a stop loss at $21.05. Our target is the $15.15 mark. The October low was $14.51 and the $15.00 level might offer some support.
Picked on November 17 at $18.89
Change since picked: + 0.00
Earnings Date 01/22/09 (unconfirmed)
Average Daily Volume: 11.4 million