ELEVANCE HEALTH INC (ELV) Technical Analysis
NYSE:ELV • US0367521038
Current stock price
ELV Technical Rating and Analysis
We assign a technical rating of 2 out of 10 to ELV. 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.
- 87% of all other stocks performed better in the past year than ELV.
- ELV is one of the lesser performing stocks in the Health Care Providers & Services industry. 62% of 100 stocks in the same industry do better.
- ELV is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
- In the last month ELV has a been trading in the 282.46 - 319.81 range, which is quite wide. It is currently trading near the high of this range.
- ELV has an average volume of 1942400 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is positive, while the long term trend is still negative. So this is evolving in the right direction, but it may need some more time to really turn around the trend.
ELV Weekly and Daily overview Charts
ELV Setup Rating and Analysis
ELV has a poor technical rating and the quality of the setup is also not perfect at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
ELV Support and Resistance Analysis
271.90
When analyzing the support we notice one important area.
- A support zone ranging from 274.65 to 276.45. 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 311.54 to 318.24. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @344.53 from a trend line in the weekly time frame.
- Resistance @355.39 from a trend line in the weekly time frame.
ELV Technical Indicator Signal Analysis
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 | 13.75 | NEGATIVE | ELV has a low relative strength, it was outperformed by 86.25% off all stocks 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) | 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) | 56.38 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 4.26 | POSITIVE | The MACD value suggests ELV has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 89.05 | OVERBOUGHT | The high Stochastics value suggests ELV may be overbought. |
| Average True Range in percent/ATR (20) | 2.54 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 25.3 | POSITIVE | The high ADX value value for ELV suggests a strong trend. |
ELV Chart- and CandleStick Pattern Analysis
ELV Technicals: Chart, Performance Metrics, Trend & Indicators
311.53
-5.34 (-1.69%)
ELEVANCE HEALTH INC / ELV TA FAQ
Can you provide the ChartMill technical rating for ELEVANCE HEALTH INC?
ChartMill assigns a technical rating of 2 / 10 to ELV.
Can you provide the trend direction for ELEVANCE HEALTH INC?
The current trend direction for ELEVANCE HEALTH INC (ELV) is Bearish.
What is the RSI signal for ELEVANCE HEALTH INC (ELV) stock?
ELEVANCE HEALTH INC (ELV) has an RSI value of 56.376. This indicates that the stock is currently neutral.
What is the buy/sell signal for ELV stock?
The buy/sell signal for ELEVANCE HEALTH INC (ELV) is hold as the short term and long term trends are mixed.
What are the support and resistance levels for ELEVANCE HEALTH INC (ELV) stock?
ELEVANCE HEALTH INC (ELV) has a support level at 276.45 and a resistance level at 311.54. Check the full technical report for our detailed analysis of ELV support and resistance levels.