This relative strength could attract momentum funds into the position over the next trading week. European government bond yields moved lower on Friday. The 10-year German bund yield fell to a 2-week low of 2.690% and finished down -0.2 bp at 2.698%. The 10-year UK gilt yield fell -2.0 bp to 4.690%. For the current year ending in December, analysts expect ELV’s EPS to decline 9.6% year over year to $29.88. Moreover, the company has surpassed or met analysts’ consensus estimates in two of the past four quarters, while missing on two other occasions. Technical analysts note potential for trend continuation if healthcare spending forecasts maintain current trajectory.
