ELEVANCE HEALTH INC (ELV) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ELV - US0367521038 - Common Stock
Overall ELV gets a technical rating of 6 out of 10. ELV has been a medium performer in the overall market. Some doubts are observed in the medium time frame, but recent action was very positive.
Although the technical rating is only medium, ELV does present a nice setup opportunity. Prices have been consolidating lately and the volatility has been reduced. There is a support zone below the current price at 348.36, a Stop Loss order could be placed below this zone.
More info and screens
300.73
We found 3 important support areas.
- A support zone ranging from 334.48 to 348.36. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 317.09 to 317.19. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 303.77 to 306.75. This zone is formed by a combination of multiple trend lines in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 354.07 to 362.35. This zone is formed by a combination of multiple trend lines in multiple time frames.
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 | NEUTRAL | NEUTRAL | The long term trend for ELV is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ELV is up. |
| ChartMill Relative Strength | 49.72 | 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) | 58.5 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.26 | NEGATIVE | The MACD value suggests ELV has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 55.43 | NEUTRAL | The Stochastics value for ELV is a neutral value. |
| Average True Range in percent/ATR (20) | 2.42 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 13.05 | NEGATIVE | The low ADX value for ELV suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 362.36 | 337.53 | 24.83 (6.85%) | 14.59% |
| An entry @362.36. This is a Buy Stop order right above the resistance zone. | An exit @337.53. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 24.83 points, which is 6.85%. | When investing 14.59% of your capital in this trade, your total portfolio risk will be 1.00%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
349.88
+6.58 (+1.92%)
ELEVANCE HEALTH INC / ELV FAQ
Can you provide the ChartMill technical rating for ELEVANCE HEALTH INC?
ChartMill assigns a technical rating of 6 / 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 58.4956. 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 -0.264885, indicating a bearish trend.