(ELV) Investment Analysis

April 30, 2024, 21:00 pm ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for ELV

• Buy ELV slightly over 508.15 target 531.95 stop loss @ 506.68 Details

The technical summary data tells us to buy ELV near 508.15 with an upside target of 531.95. This data also tells us to set a stop loss @ 506.68 to protect against excessive loss in case the stock begins to move against the trade. 508.15 is the first level of support below 528.58 , and by rule, any test of support is a buy signal. In this case, support 508.15 is being tested, a buy signal would exist.

• Short ELV slightly under 531.95, target 508.15, stop loss @ 533.49 Details

The technical summary data is suggesting a short of ELV as it gets near 531.95 with a downside target of 508.15. We should have a stop loss in place at 533.49though. 531.95 is the first level of resistance above 528.58, and by rule, any test of resistance is a short signal. In this case, if resistance 531.95 is being tested, a short signal would exist.

Swing Trading Plans for ELV

• Buy ELV slightly over 531.95, target 534.43, Stop Loss @ 530.41 Details

If 531.95 begins to break higher, the technical summary data tells us to buy ELV just slightly over 531.95, with an upside target of 534.43. The data also tells us to set a stop loss @ 530.41 in case the stock turns against the trade. 531.95 is the first level of resistance above 528.58, and by rule, any break above resistance is a buy signal. In this case, 531.95, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ELV slightly near 531.95, target 508.15, Stop Loss @ 533.49. Details

The technical summary data is suggesting a short of ELV if it tests 531.95 with a downside target of 508.15. We should have a stop loss in place at 533.49 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 531.95, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ELV

• Buy ELV slightly over 529.52, target 531.95, Stop Loss @ 528.28 Details

If 529.52 begins to break higher, the technical summary data tells us to buy ELV just slightly over 529.52, with an upside target of 531.95. The data also tells us to set a stop loss @ 528.28 in case the stock turns against the trade. 529.52 is the first level of resistance above 528.58, and by rule, any break above resistance is a buy signal. In this case, 529.52, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ELV slightly near 529.52, target 508.15, Stop Loss @ 530.76. Details

The technical summary data is suggesting a short of ELV if it tests 529.52 with a downside target of 508.15. We should have a stop loss in place at 530.76 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 529.52, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Check the time stamp on this data. Updated AI-Generated Signals for Elevance Health Inc. (ELV) available here: ELV.

ELV Ratings for April 30:

Term →	Near	Mid	Long
Rating	Neutral	Strong	Strong
P1	0	0	483.81
P2	529.52	534.43	508.15
P3	537.45	552.09	531.95

AI Generated Signals for ELV

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With an objective approach to Elevance Health Inc. (NYSE: ELV), Stock Traders Daily attempts to go with the flow of the market by utilizing a combination of market analysis and stock analysis.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for ELV change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if ELV is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for ELV too.  All of these are offered below the Summary Table.