ELEVANCE HEALTH INC (ELV) Stock Technical Analysis
NYSE:ELV - New York Stock Exchange, Inc. - US0367521038 - Common Stock - Currency: USD
We assign a technical rating of 0 out of 10 to ELV. 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.
Both the long and short term trends are negative. It is better to avoid buying stocks with negative trends.
86% of all other stocks performed better in the past year than ELV.
ELV is part of the Health Care Providers & Services industry. There are 102 other stocks in this industry, of which 71% are performing better than ELV.
ELV is currently trading near the lower end of its 52 week range, which is not a good sign. The S&P500 Index is trading in the upper part of its 52 week range, so ELV is lagging the market.
In the last month ELV has a been trading in the 368.75 - 400.05 range, which is quite wide. It is currently trading near the lows of this range.
ELV has an average volume of 1729310 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
ELV has a bad technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 365.96, a Stop Loss order could be placed below this zone.
More info and screens
362.16
417.83
We found 1 important support area.
- 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.
3 important resistance areas can be observed.
- A resistance zone ranging from 380.83 to 386.11. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A resistance zone ranging from 393.37 to 405.76. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @413.69 from a trend 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 | DOWN | NEGATIVE | The short term trend for ELV is down. |
| ChartMill Relative Strength | 14.09 | NEGATIVE | ELV has a low relative strength, it was outperformed by 85.91% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ELV is below 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) | 40.48 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.21 | POSITIVE | The MACD value suggests ELV has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 24.54 | NEUTRAL | The Stochastics value for ELV is a neutral value. |
| Average True Range in percent/ATR (20) | 2.49 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 24.29 | 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)
374.52
-1.39 (-0.37%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Providers & Services
Performance
% Chg-0.37%
1 Week-3.03%
2 Weeks-2.63%
1 Month-6.4%
3 Month-12.33%
6 Month2.34%
12 Month-29.92%
2 Year-15.7%
3 Year-22.39%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)8.25
ATR(20)%2.49%
ATR Inc-10.09%
Range Today9.12
ADR(20)9.31
ADR(20)%2.49%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS14.09
Mansfield-1.84
10 Day High394.26
10 Day Low370.88
20 Day High400.05
20 Day Low368.75
52 Week High567.26
52 Week Low357.45
CS1 End365.96
CR1 Start380.83
Volume & EV
DER(3)0.03%
DER(5)1.02%
Volume2.95M
Volume Incr-15.29%
Vol(5)1.61M
Vol(50)1.73M