Is Anthem Setting Up for a Big Move?

NYSE: ELV | Elevance Health News, Ratings, and Charts

ELV – A rectangle pattern has formed in the chart of Anthem (ANTM). The stock has bounced off both its resistance line and level of support. If it breaks through either level, a big move is expected. Read more to learn how to profit from this trade.

Anthem (ANTM) is one of the largest private health insurance organizations nationwide, providing medical benefits to roughly 44 million medical members. The company offers employer, individual, and government-sponsored coverage plans. It is also the largest single provider of Blue Cross Blue Shield branded coverage.

The company is benefiting from a premium rate increase and higher membership. In addition, acquisitions have enabled the company to boost its Medicare Advantage growth. ANTM also saw a rise in usage of its virtual care services. Plus, its Medicare and Medicaid businesses should help increase its membership going forward.

The company’s balance sheet looks solid with a debt-to-equity ratio of only 0.6. Growth also looks strong with earnings rising an average of 21.1% per year over the past five years. Analysts expect earnings to surge 100.8% year over year in the current quarter, leading to a Growth Grade of A in our POWR Ratings system.

The stock also looks undervalued with a forward P/E of 14.49. ANTM was showing bullish momentum in October, but performance has been mixed since, as shown in the chart below.

Take a look at the 1-year chart of ANTM below with added notations:

Chart of ANTM provided by TradingView

ANTM jumped higher back in October, eventually moving into a rectangle pattern (blue) with support at around $414 and a $440 resistance area. Whichever of those two levels breaks will likely dictate the stock’s next big move.

Click Here to Read the Greatest Trading Book Ever Written

A long trade could be entered on a break of resistance, with a protective stop set underneath the point of entry. A short trade could be pleased on a bread under the support level, with a protective stop placed above the entry point.

Want to Discover More Great Trades?

What is better than finding the 1 attractive stock in this article?

Discovering 5 timely trades…like the ones in this new special report. Click below to claim your free copy now!

5 Stocks Ready to BREAKOUT!

Want More Great Investing Ideas?

3 Stocks to DOUBLE This Year


ANTM shares were trading at $422.12 per share on Wednesday morning, down $1.54 (-0.36%). Year-to-date, ANTM has gained 32.69%, versus a 26.15% rise in the benchmark S&P 500 index during the same period.


About the Author: Christian Tharp


I am an expert stock market coach having helped over 4000 beginner and advanced traders & investors from around the world take control of their financial futures. I also write stock market related articles for the Adam Mesh Trading Group and Yolo Publishing. More...


More Resources for the Stocks in this Article

TickerPOWR RatingIndustry RankRank in Industry
Get RatingGet RatingGet Rating

Most Popular Stories on StockNews.com


How is the Stock Market Like a Helium Balloon?

Stocks have finally broke above 6,000 for the S&P 500 (SPY). The more important question is what comes next? Steve Reitmeister provides his answer in his latest market commentary.

Has the Bull Market Run Out of Steam?

It seems the S&P 500 (SPY) advance has stalled and cant crack above strong resistance at 6,000. Why is that happening? And what happens next? Read on for the answers...

Investors Remain “Cautiously Optimistic”

The S&P 500 (SPY) has made great advances since the lows of early April. Yet seem to be stuck under resistance at 6,000. What happens next depends on tariff talks. So let’s talk about the latest news on that front.

Bull Market Til Proven Otherwise

The phrase that paid for investors in 2025 was “Bull market til proven otherwise” Steve Reitmeister explains why in his latest market update and preview of top stock picks.

Investor Alert: Mission Accomplished?

The S&P 500 (SPY) has broken out above the 200 day moving average. Does that mean that bear market fears are now over? And should investors be riding the bull to new heights? Read on for Steve Reitmeister’s answer...

Read More Stories

More Elevance Health (ELV) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All ELV News