ELEVANCE HEALTH INC (ELV) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ELV - US0367521038 - Common Stock
Taking everything into account, ELV scores 3 out of 10 in our technical rating. Recently some decent action could be observed, but in the medium term time frame this is still negative. ELV was also a bad performer in the overall market in the last year.
Although the technical rating is bad, ELV does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- 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
300.73
When analyzing the support we can see 3 important areas.
- Support @337.83 from a trend line in the daily time frame.
- A support zone ranging from 317.19 to 332.33. 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 308.77. This zone is formed by a combination of multiple trend lines in the daily time frame.
2 important resistance areas can be observed.
- 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 | UP | POSITIVE | The short term trend for ELV is up. |
| ChartMill Relative Strength | 31.71 | 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) | 57.86 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 2.25 | POSITIVE | The MACD value suggests ELV has a positive trend. |
| Stochastics (14,3) | 88.45 | OVERBOUGHT | The high Stochastics value suggests ELV may be overbought. |
| Average True Range in percent/ATR (20) | 3.18 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 17.2 | NEGATIVE | The low ADX value for ELV suggests a weak or negative trend. |
338.52
+2.25 (+0.67%)
ELEVANCE HEALTH INC / ELV FAQ
Can you provide the ChartMill technical rating for ELEVANCE HEALTH INC?
ChartMill assigns a technical rating of 3 / 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 57.8629. 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 2.24862, indicating a bullish trend.
Can you provide the buy/sell signal for ELEVANCE HEALTH INC?
The buy/sell signal for ELEVANCE HEALTH INC (ELV) is hold as the short term and long term trends are mixed.