When (ELV) Moves Investors should Listen
May 20, 2024, 15:44 pm ET, BY Randall S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for ELV
- Buy ELV slightly over 539.92 target n/a stop loss @ 538.36. Details
The technical summary data tells us to buy ELV near 539.92, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 538.36 to protect against excessive loss in case the stock begins to move against the trade. 539.92 is the first level of support below 543.22, and by rule, any test of support is a buy signal. In this case, if support 539.92 is being tested, a buy signal would exist.
- NONE . Details
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Swing Trading Plans for ELV
- Buy ELV slightly over 549.12, target n/a, Stop Loss @ 547.53 Details
If 549.12 begins to break higher, the technical summary data tells us to buy ELV just slightly over 549.12, with an upside target of n/a. The data also tells us to set a stop loss @ 547.53 in case the stock turns against the trade. 549.12 is the first level of resistance above 543.22, and by rule, any break above resistance is a buy signal. In this case, 549.12, 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 549.12, target 541.86, Stop Loss @ 550.71. Details
The technical summary data is suggesting a short of ELV if it tests 549.12 with a downside target of 541.86. We should have a stop loss in place at 550.71 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, 549.12, 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 543.5, target 548.37, Stop Loss @ 542.23 Details
If 543.5 begins to break higher, the technical summary data tells us to buy ELV just slightly over 543.5, with an upside target of 548.37. The data also tells us to set a stop loss @ 542.23 in case the stock turns against the trade. 543.5 is the first level of resistance above 543.22, and by rule, any break above resistance is a buy signal. In this case, 543.5, 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 543.5, target 541.86, Stop Loss @ 544.77. Details
The technical summary data is suggesting a short of ELV if it tests 543.5 with a downside target of 541.86. We should have a stop loss in place at 544.77 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, 543.5, 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 May 20:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Neutral |
Strong |
| P1 |
0 |
0 |
493.36 |
| P2 |
543.5 |
541.86 |
516.9 |
| P3 |
548.37 |
549.12 |
539.92 |
AI Generated Signals for ELV
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Elevance Health Inc. (NYSE: ELV) report below is a real world example. Included are trading plans for ELV, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for ELV:
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