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Elevance Health Inc (ELV) may enjoy gains as insiders got busy in the recent days

Elevance Health Inc’s recently made public that its EVP & President,Gov Health Ben Norwood Felicia F unloaded Company’s shares for reported $3.3 million on Apr 24 ’24. In the deal valued at $532.44 per share,6,199 shares were sold. As a result of this transaction, Norwood Felicia F now holds 27,304 shares worth roughly $14.38 million.

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Then, Norwood Felicia F sold 14,111 shares, generating $7,531,565 in total proceeds. Upon selling the shares at $533.74, the EVP & President,Gov Health Ben now owns 31,460 shares.

Before that, Kendrick Charles Morgan JR sold 2,432 shares. Elevance Health Inc shares valued at $1,217,119 were divested by the EVP & President, Commercial at a price of $500.46 per share. As a result of the transaction, Kendrick Charles Morgan JR now holds 15,840 shares, worth roughly $8.34 million.

Morgan Stanley initiated its Elevance Health Inc [ELV] rating to an Overweight in a research note published on June 24, 2024; the price target was $643. A number of analysts have revised their coverage, including Robert W. Baird’s analysts, who began to cover the stock in late May with a ‘”an Outperform”‘ rating. Barclays began covering ELV with “an Overweight” recommendation on March 06, 2024. Wolfe Research revised its rating on July 12, 2023. It rated ELV as “a Peer perform” which previously was an “an Outperform”.

Price Performance Review of ELV

On Monday, Elevance Health Inc [NYSE:ELV] saw its stock fall -0.71% to $526.55. Over the last five days, the stock has lost -2.83%. Elevance Health Inc shares have risen nearly 11.66% since the year began. Nevertheless, the stocks have risen 19.86% over the past one year. While a 52-week high of $550.34 was reached on 05/22/24, a 52-week low of $412.00 was recorded on 01/18/24. SMA at 50 days reached $534.56, while 200 days put it at $495.00. A total of 0.66 million shares were traded, compared to the trading of 0.66 million shares in the previous session.

Levels Of Support And Resistance For ELV Stock

The 24-hour chart illustrates a support level at 524.30, which if violated will result in even more drops to 522.06. On the upside, there is a resistance level at 530.56. A further resistance level may holdings at 534.57. The Relative Strength Index (RSI) on the 14-day chart is 43.65, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -5.03, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 84.33%. Stochastics%K at 25.90% indicates the stock is a holding.

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