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 1 out of 10 to ELV. ELV's overall performance in the market is below average. Also recent evolutions are not that positive. Both the medium and short term picture give negative signs.
The long term trend is still negative, but the short term trend is neutral. It is advised to wait a little bit longer to see how this turns out.
89% of all other stocks performed better in the past year than ELV.
ELV is part of the Health Care Providers & Services industry. There are 103 other stocks in this industry, of which 70% are performing better than ELV.
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.
ELV has an average volume of 1728020 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 369.01 - 394.26 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.
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
362.16
444.22
2 important support areas can be observed.
- A support zone ranging from 374.29 to 380.39. This zone is formed by a combination of multiple trend lines and important moving averages 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 4 important resistance areas.
- A resistance zone ranging from 388.97 to 395.90. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @405.76 from a horizontal line in the daily time frame.
- Resistance @424.28 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 | NEUTRAL | NEUTRAL | The short term trend for ELV is neutral. |
| ChartMill Relative Strength | 11.37 | NEGATIVE | ELV has a low relative strength, it was outperformed by 88.63% 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) | 53.94 | NEUTRAL | The RSI value for ELV is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 1.66 | POSITIVE | The MACD value suggests ELV has a positive trend. |
| Stochastics (14,3) | 52.11 | NEUTRAL | The Stochastics value for ELV is a neutral value. |
| Average True Range in percent/ATR (20) | 2.09 | MEDIUM VOLATILITY | The ATR as a percentage value for ELV suggests some volalility. |
| Average Directional Index/ADX (14) | 23.26 | 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)
388.96
+7.47 (+1.96%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryHealth Care Providers & Services
Performance
% Chg1.96%
1 Week4.44%
2 Weeks1.15%
1 Month1.33%
3 Month-9.31%
6 Month4.68%
12 Month-26.65%
2 Year-12.45%
3 Year-19.4%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)7.91
ATR(20)%2.09%
ATR Inc31.05%
Range Today10.91
ADR(20)8.11
ADR(20)%2.08%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS11.37
Mansfield-1.71
10 Day High389.91
10 Day Low369.8
20 Day High394.26
20 Day Low369.01
52 Week High567.26
52 Week Low357.45
CS1 End380.13
CR1 Start393.37
Volume & EV
DER(3)0.41%
DER(5)0.05%
Volume1.73M
Volume Incr-20.28%
Vol(5)1.43M
Vol(50)1.73M