ELEVANCE HEALTH INC (ELV) Stock Technical Analysis
USA - NYSE:ELV - US0367521038 - Common Stock
345.21 USD
-4.54 (-1.3%)
340.93 USD
-4.28 (-1.24%)
Taking everything into account, ELV scores 4 out of 10 in our technical rating. In the past year, ELV was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
62% of all other stocks performed better in the past year than ELV.
ELV is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
ELV has an average volume of 2021870 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
ELV is part of the Health Care Providers & Services industry. There are 101 other stocks in this industry, ELV did better than 48% of them.
ELV is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ELV is lagging the market.
ELV has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately. We notice that large players showed an interest for ELV in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
303.67
365.97
When analyzing the support we notice one important area.
- Support @306.74 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- A resistance zone ranging from 350.87 to 355.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @362.35 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | NEUTRAL | NEUTRAL | The long term trend for ELV is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ELV is neutral. |
| ChartMill Relative Strength | 38.61 | NEUTRAL | ELV is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ELV is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELV is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ELV is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 55.43 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -1.34 | NEGATIVE | The MACD value suggests ELV has a negative trend. |
| Stochastics (14,3) | 53.86 | NEUTRAL | The Stochastics value for ELV is a neutral value. |
| Average True Range in percent/ATR (20) | 2.55 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 27.32 | POSITIVE | The high ADX value value for ELV suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
345.21
-4.54 (-1.3%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Providers & Services
Performance
% Chg-1.3%
1 Week-1.22%
2 Weeks-4.73%
1 Month5.77%
3 Month19.41%
6 Month-18.13%
12 Month-18.83%
2 Year-23.3%
3 Year-36.86%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)8.84
ATR(20)%2.55%
ATR Inc76.67%
Range Today10.35
ADR(20)8.56
ADR(20)%2.48%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS38.61
3 months CRS86.94
6 months CRS9.88
Mansfield-1.7
10 Day High364.87
10 Day Low337.01
20 Day High364.87
20 Day Low315.52
52 Week High458.75
52 Week Low273.71
CS1 End306.74
CR1 Start350.87
Volume & EV
DER(3)4.55%
DER(5)2.92%
Volume3.06M
Volume Incr24.77%
Vol(5)2.33M
Vol(50)2.02M