ELEVANCE HEALTH INC (ELV) Stock Technical Analysis
NYSE:ELV - New York Stock Exchange, Inc. - US0367521038 - Common Stock - Currency: USD
Overall ELV gets a technical rating of 0 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.
The short term trend is negative, as is the long term trend. There should be more interesting stocks out there.
When comparing the yearly performance of all stocks, ELV is a bad performer in the overall market: 85% of all stocks are doing better.
ELV is one of the lesser performing stocks in the Health Care Providers & Services industry. 71% of 102 stocks in the same industry do better.
ELV is currently trading in the lower part of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so ELV is lagging the market.
ELV has an average volume of 1861580 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
In the last month ELV has a been trading in the 357.45 - 424.24 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
Although the technical rating is bad, ELV does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 393.37. Right above this resistance zone may be a good entry point.
More info and screens
362.16
444.22
2 important support areas can be observed.
- Support @374.29 from a horizontal line in the daily time frame.
- A support zone ranging from 365.82 to 365.96. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 3 important resistance areas.
- A resistance zone ranging from 393.37 to 410.01. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @418.91 from a trend line in the daily time frame.
- Resistance @439.82 from a horizontal line in the weekly 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 | DOWN | NEGATIVE | The short term trend for ELV is down. |
| ChartMill Relative Strength | 15.21 | NEGATIVE | ELV has a low relative strength, it was outperformed by 84.79% off all stocks 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) | DOWN | NEGATIVE | The current price of ELV is below a declining 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) | 47.67 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.75 | POSITIVE | The MACD value suggests ELV has a positive trend. |
| Stochastics (14,3) | 46.27 | NEUTRAL | The Stochastics value for ELV is a neutral value. |
| Average True Range in percent/ATR (20) | 3.56 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 22.91 | NEUTRAL | The ADX value for ELV suggests a possible start of a new 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)
389.61
-3.75 (-0.95%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Providers & Services
Performance
% Chg-0.95%
1 Week3.33%
2 Weeks4.66%
1 Month-3.7%
3 Month-7.44%
6 Month2.15%
12 Month-27.15%
2 Year-12.31%
3 Year-19.27%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)10.4
ATR(20)%3.56%
ATR Inc-22.52%
Range Today7.24
ADR(20)12.84
ADR(20)%3.3%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS15.21
Mansfield-1.66
10 Day High394.26
10 Day Low368.83
20 Day High424.24
20 Day Low357.45
52 Week High567.26
52 Week Low357.45
CS1 End374.29
CR1 Start393.37
Volume & EV
DER(3)-3.8%
DER(5)-1.62%
Volume1.61M
Volume Incr1.17%
Vol(5)1.90M
Vol(50)1.86M