ELEVANCE HEALTH INC (ELV) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ELV - US0367521038 - Common Stock
Overall ELV gets a technical rating of 1 out of 10. ELV scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
Although the technical rating is bad, ELV does present a nice setup opportunity. Prices have been consolidating lately. There is a support zone below the current price at 331.73, a Stop Loss order could be placed below this zone.
More info and screens
300.73
We found 2 important support areas.
- A support zone ranging from 317.19 to 331.73. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 303.77 to 308.36. This zone is formed by a combination of multiple trend lines in the daily time frame.
3 important resistance areas can be observed.
- Resistance @338.53 from a trend line in the daily time frame.
- Resistance @353.25 from a horizontal line in the weekly time frame.
- 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 | DOWN | NEGATIVE | The long term trend for ELV is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ELV is neutral. |
| ChartMill Relative Strength | 31.28 | NEUTRAL | ELV is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of ELV is above a declining 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) | 56.57 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.63 | POSITIVE | The MACD value suggests ELV has a positive trend. |
| Stochastics (14,3) | 77.4 | NEUTRAL | The Stochastics value for ELV is a neutral value. |
| Average True Range in percent/ATR (20) | 3.17 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 17.15 | NEGATIVE | The low ADX value for ELV suggests a weak or negative trend. |
336.27
+6.67 (+2.02%)
ELEVANCE HEALTH INC / ELV FAQ
Can you provide the ChartMill technical rating for ELEVANCE HEALTH INC?
ChartMill assigns a technical rating of 1 / 10 to ELV.
What is the trend direction for ELV stock?
The current trend direction for ELEVANCE HEALTH INC (ELV) is Bearish.
What is the RSI signal for ELV stock?
ELEVANCE HEALTH INC (ELV) has an RSI value of 56.569. This indicates that the stock is currently neutral.
What is the MACD signal for ELV stock?
The MACD indicator for ELEVANCE HEALTH INC (ELV) has a value of 1.6257, indicating a bullish trend.