Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>The ELV stock decreased by over 1.05% over the last week.</a></li>
 <li><span>2</span> <a>Elevance Health Inc. (NYSE: ELV) stock’s analysts’ ratings are a strong buy.</a></li>
</ul>
<p>Elevance Health Inc. is a company that works according to its mission to make a positive difference in people’s lives and communities by simplifying healthcare.</p>
<p>Recently, the Elevance Health Inc. (NYSE: ELV) stock reported a revenue of $8.99 billion and an EPS of $42.48 for the quarter ending September 2023, which was announced on October, 18th, 2023.&nbsp;</p>
<p>The earnings exceeded the estimated figures by 6.26% and showed a positive surprise. But, the revenue missed the estimation by 0.66%.&nbsp;Furthermore, the ELV next quarter’s revenue and EPS are expected to be $42.083 Billion and $5.686 respectively. The report will be released on January 31st, 2024.</p>
<p>In addition, the ELV annual graph shows that the ELV stock’s revenue is advancing each year, indicating a healthy sign.</p>
<p>Besides, the ELV stock’s dividend yield (TTM) is 1.26% and its last dividend payment was $1.48 per share. The last ex-dividend date was September 7th, 2023 and its payout ratio is 22.45%. The dividend payout ratio suggests that ELV has enough cash flow to reinvest in its business.</p>
<p>The next dividend payment will be $1.48 per share, with an ex-dividend date of December 5th, 2023, and a payment date of December 21, 2023.</p>
<p>However, after a strong bullish run on the 27th of March 2020 from the price of $171 to $549, the stock faced a lot of resistance at the high and had a sell-off due to profit booking. The price fell from a high in October 2022 to form a support at $415 around July 2023.</p>
<p>Therefore, if buyers boost more, the ELV stock might surge strongly from the current level and surge above. The possible targets are between $473 and $480. On the contrary, if ELV stock fails to hold its grip and continuously declines and breaches below $432, it may hit $423.</p>
<h2 class="wp-block-heading" id="strong-will-elv-surpass-previous-high-peaks-strong"><strong>Will ELV Surpass Previous High Peaks?</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1563" height="835" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609.png" alt="ELV Stock Forecast: Will (NYSE: ELV) Thrust Upwards Soon?" class="wp-image-177268" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609.png 1563w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609-768x410.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609-1536x821.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-609-1140x609.png 1140w" sizes="(max-width: 1563px) 100vw, 1563px">
  <figcaption class="wp-element-caption">
   Source: NYSE: ELV by TradingView
  </figcaption>
 </figure>
</div>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1564" height="836" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608.png" alt="ELV Stock Forecast: Will (NYSE: ELV) Thrust Upwards Soon?" class="wp-image-177267" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608.png 1564w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608-300x160.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608-1024x547.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608-768x411.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608-1536x821.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608-750x401.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-608-1140x609.png 1140w" sizes="(max-width: 1564px) 100vw, 1564px">
  <figcaption class="wp-element-caption">
   Source: NYSE: ELV by TradingView
  </figcaption>
 </figure>
</div>
<p>Currently, <a href="https://www.thecoinrepublic.com/2023/10/01/elevance-health-elv-stock-pause-on-merger-causes-sell-off/" target="_blank" rel="noopener noreferrer nofollow">ELV stock</a> is trading above the 20 and 50-day exponential moving averages, which are supporting the price momentum.</p>
<p>Nevertheless, if buying volume adds up, then the price might support bullish momentum by making higher highs and new highs forming an uptrend.Hence, the ELV price is expected to move upward giving a bullish outlook over the daily time frame chart.</p>
<p>The current value of RSI is 50.61 points. The 14 SMA is above the median line at 54.40 points which indicates that the ELV stock is neither bullish nor bearish, it is neutral.</p>
<p>The MACD line at 3.50 and the signal line at 1.89 are above the zero line. A bullish crossover is observed in the MACD indicator which signals strength in the momentum of the stock price.</p>
<p>In addition, the stock ratings for <a href="https://www.thecoinrepublic.com/2023/10/01/elevance-health-elv-stock-pause-on-merger-causes-sell-off/" target="_blank" rel="noopener noreferrer nofollow">ELV stock</a> are positive and highly recommended based on 22 analysts who have evaluated the stock in the last three months. The 1-year price forecasts for ELV stock by 18 analysts range between $500 to $629</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>As per technical tools, if ELV is to attract more bulls, it might ascend the price upward break above the rejecting EMAs, and turn them into support levels. However, if the upcoming dividends, allure more buyers, this might trigger a huge rally surpassing all previous peaks and ascending upwards. On top of that, the analysts are also bullish on the ELV stock, with 22 analysts rating it as a “buy” in the last three months’ evaluation.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p><strong>Support Levels</strong>: $432 and $423</p>
<p><strong>Resistance Levels</strong>: $473 and $480</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.</p>

ELV Stock Forecast: Will (NYSE: ELV) Thrust Upwards Soon?

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