UnitedHealth Group Incorporated (UNH) will report earnings before the market opens on Thursday, January 19th.
UNH is expected to earn $1.03 for its 4th quarter. Top Equity News expects the health insurance company to announce earnings that will beat investors’ and analysts’ expectations. The TEN estimate is $1.07 cents – or a 4 cent upside surprise.
Beating consensus estimates is nothing new for UnitedHealth as they have topped the forecast 11 consecutive quarters. Top Equity expects UNH to make it a dozen in a row Thursday morning.
Following the quarterly check-ups, UNH rallied eight of the eleven times. On most occasions, United’s stock gains 3% to 8% after earnings. Heading into the news, UNH is trading against its 52-week high. That means the stock could break out to the next level of long-term resistance – $57ish – with a strong announcement and upbeat guidance.
It would be TEN’s preference to add the health care company a few dollars cheaper. The chart shows support near UNH’s 26-day-moving-average of $50.65. In our view, that’s where we would put our limit orders in. A little haircut would give shares the opportunity to move closer to the upper end of its historical post-earnings’ returns.
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