UNH Analysis by @marketchartpattern

The analysis is on UNH (UnitedHealth Group) using a monthly chart. The stock bottomed in October 2008 but the S&P bottomed in March 2009. Between October 2008 to COVID highs UNH rose about 738%. From COVID low of March until the highs of around September, UNH went up 240%. It's currently undergoing a 60% decline. Using Fibonacci extensions from the 2008 low, UNH hit the 1.618 Fibonacci extension around $630, completing an ABCD pattern. A key support level is around $292. Closing price for the last week is around $291.91. A level of $281 is noted as 78.6% retracement. On a weekly timeframe, the stock has declined 23%.