UnitedHealth Stock Spirals Lower Again. Don’t Buy the Dip.

UnitedHealth Group (UNH) stock has plummeted nearly 4% in premarket trading after the insurance giant disclosed Department of Justice investigations into its Medicare program participation. The company says it’s now complying with formal criminal and civil requests from the DOJ, confirming reports that have contributed to its substantial year-to-date decline of 44.3%. 

UNH’s 50-day moving average is now on the cusp of crossing below its 20-day counterpart, with the shares on pace to revisit their May lows.