ELV Powers to $349.88 on Strong EMA Stack

Elevance Health Inc (ELV) closed up 1.92% at $349.88 on December 27.

Technical indicators paint a bullish picture:

• Moving Averages: Price trades above the 9-day EMA ($345.53) with a bullish stack. The 21-day EMA at $341.33 provides support.
• Momentum: RSI at 58.1 is in neutral territory but trending higher. MACD is bearish (3.87 vs signal 3.93).
• Volatility: Bollinger Band width at 12.0% indicates normal volatility.

While the trend remains bullish, weakening MACD warrants caution for new entries at current levels.

Key levels to watch: Support at $321.43, Resistance at $362.31.