The usual then – 24 Dec. 2012 – and now charts;
So we did not quite make it to the $56 level, but $54.62 is close enough. It did take longer than normal as the stock decided to kill time by doing a minor expanding triangle for minor wave 4 of 5. In any event it should now drop to the lowest point of the larger triangle, about $34 and a lot further after that (see previous blog). A sell.
Symantec may have a little further to go to the upside, say to $29 or so, but then it should be sold. At that point (or now) wave c will have a nice 5-wave count, leave the latest gap in the middle and be about $5 from double topping. Both the RSI and MACD are in extreme territory.
United Healthcare has a tendency of being very persistent in whatever direction it happens to be going. That makes it a dangerous stock to call a turn on. This time it looks like there is sufficient evidence to do so. The stock has managed to re-enter the original channel that it had been in years ago and has had an impressive run since the lows of ‘09. Furthermore it has a very plausible 5-wave wave count from that bottom. Two different triangles add confidence to this count. The first is wave 4 of 3 of 5 and the second one wave 4 of 5, so they are of different degrees. Next wave 5 of 5 is a 5-wave sequence in which the minor wave 5 is extended. The stock is now trading above the upper trend line of the 5th wave, normal in a “throw over”. The RSI is already not confirming the (much) higher stock price. This one we would put in the category of right-or-wrong-but-never-in-doubt as a sell, right away.
Just days after Rio Tinto (NYSE: RIO ) put expansion plans for its massive Oyu Tolgoi project in Mongolia on hold after being told approval of the plans would need parliament’s assent — and that wouldn’t happen anytime soon because it was in summer recess — the prime minister said the miner doesn’t need the governing body’s imprimatur and the work can proceed as scheduled.
From Yahoo finance. See what a little frolicking on horseback – no saddle – can do.