$UNH
I remain long and confident.
My feed is packed with people stopping out and calling for the end of healthcare insurance.
I am not sure what their plan was... Calling for a long term investment but cutting after a move from -50% to -60% from highs, and all of this while we retest support.
To me it just looks like people are getting lost in micro management, trading the stock while calling it an investment.
Long term $UNH has a simple trending pattern that can be represented by the following monthly chart since the 1980s:
1. Uptrend with the 50ema
2. Periodically build ranges holding the prior 2y lows if the 50ema starts to be crossed
3. Test the 200ema/ma
Not only are we retesting the moving averages but we are also hitting the sub 30 RSI, which we only saw in 2008.
Technicals are not perfect but they help to guide and understand where we are in the general trend.