Elevance Health Inc. Stock Forecast

Elevance Health Inc. stock price ended at $531.63 on Monday, after losing 0.450%.
(Updated on Jun 17, 2024)

0HG8.L Signals & Forecast

Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. The Elevance Health Inc. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $533.08 and $534.01. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 04, 2024, and so far it has fallen -2.06%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The stock had a Golden Star Signal on Tuesday, April 16, 2024 for the short-term and also have Golden Star Signal for the medium-term dated Friday, November 03, 2023.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss for Elevance Health Inc. stock

Elevance Health Inc. finds support from accumulated volume at $526.94 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved $4.60 between high and low, or 0.87%. For the last week the stock has had daily average volatility of 1.57%.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (0HG8.L) For The Upcoming Trading Day Of Tuesday 18th

For the upcoming trading day on Tuesday, 18th we expect Elevance Health Inc. to open at $531.76, and during the day (based on 14 day Average True Range), to move between $521.90 and $541.36, which gives a possible trading interval of +/-$9.73 (+/-1.83%) up or down from last closing price. If Elevance Health Inc. takes out the full calculated possible swing range there will be an estimated 3.66% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $531.97 (0.06%) than the support at $526.94 (0.88%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Elevance Health Inc. stock A Buy?

The Elevance Health Inc. stock holds several negative signals and despite the positive trend, we believe Elevance Health Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.

Current score: -2.976 Sell Candidate Unchanged

Predicted Opening Price for Elevance Health Inc. of Tuesday, June 18, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.