Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Elevance Health Inc shares valued at $3,205,182 were sold by Kendrick Charles Morgan JR on Oct 18 ’24. At $432.14 per share, Kendrick Charles Morgan JR sold 7,417 shares. The insider’s holdings dropped to 8,423 shares worth approximately $3.53 million following the completion of this transaction.
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Also, Kendrick Charles Morgan JR purchased 7,417 shares, netting a total of over 3,206,221 in proceeds.
Before that, PERU RAMIRO G had sold 753 shares from its account. In a trade valued at $400,235, the Director traded Elevance Health Inc shares for $531.52 each. Upon closing the transaction, the insider’s holdings decreased to 753 shares, worth approximately $3.66 million.
As published in a research note from Argus on October 18, 2024, Elevance Health Inc [ELV] has been rated down from a Buy to a Hold. Analysts at BofA Securities downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of June 24, 2024, Morgan Stanley has initiated its “an Overweight” rating for ELV. Earlier on May 30, 2024, Robert W. Baird initiated its rating. Their recommendation was “an Outperform” for ELV stock.
Analyzing ELV Stock Performance
During the last five days, there has been a drop of approximately -5.70%. Over the course of the year, Elevance Health Inc shares have dropped approximately -11.14%. Shares of the company reached a 52-week high of $567.26 on 09/03/24 and a 52-week low of $397.98 on 10/17/24. A 50-day SMA is recorded $517.16, while a 200-day SMA reached $517.29. Nevertheless, trading volume fell to 2.35 million shares from 2.23 million shares the previous day.
Support And Resistance Levels for Elevance Health Inc (ELV)
According to the 24-hour chart, there is a support level at 415.47, which, if violated, would cause prices to drop to 411.89. In the upper region, resistance lies at 425.75. The next price resistance is at 432.45. RSI (Relative Strength Index) is 22.65 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -46.91, which suggests the price will decrease in the coming days. Percent R is at 81.24%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
