ELANCO ANIMAL HEALTH INC (ELAN) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ELAN - US28414H1032 - Common Stock
Taking everything into account, ELAN scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ELAN is showing a nice and steady performance.
Besides having an excellent technical rating, ELAN also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 22.85. Right above this resistance zone may be a good entry point. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
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20.23
We found 3 important support areas.
- A support zone ranging from 21.98 to 22.07. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 21.09 to 21.29. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @20.43 from a horizontal line in the daily time frame.
We can see 2 important resistance areas.
- Resistance @22.85 from a horizontal line in the daily time frame.
- A resistance zone ranging from 23.27 to 23.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for ELAN is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ELAN is up. |
| ChartMill Relative Strength | 93.25 | POSITIVE | ELAN has a high relative strength, it outperformed 93.25% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | MIXED | The current price of ELAN is above a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELAN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ELAN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 55.05 | NEUTRAL | The RSI value for ELAN is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.05 | POSITIVE | The MACD value suggests ELAN has a positive trend. |
| Stochastics (14,3) | 82.19 | OVERBOUGHT | The high Stochastics value suggests ELAN may be overbought. |
| Average True Range in percent/ATR (20) | 2.74 | MEDIUM VOLATILITY | The ATR as a percentage value for ELAN suggests some volalility. |
| Average Directional Index/ADX (14) | 13.08 | NEGATIVE | The low ADX value for ELAN suggests a weak or negative trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 22.86 | 21.97 | 0.89 (3.89%) | 25.00% |
| An entry @22.86. This is a Buy Stop order right above the resistance zone. | An exit @21.97. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.89 points, which is 3.89%. | For a 0.97% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of ELAN. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
22.38
+0.16 (+0.72%)
ELANCO ANIMAL HEALTH INC / ELAN FAQ
What is the ChartMill technical rating of ELANCO ANIMAL HEALTH INC (ELAN) stock?
ChartMill assigns a technical rating of 10 / 10 to ELAN.
What is the trend direction for ELAN stock?
The current trend direction for ELANCO ANIMAL HEALTH INC (ELAN) is Bullish.
What is the RSI signal for ELAN stock?
ELANCO ANIMAL HEALTH INC (ELAN) has an RSI value of 55.0541. This indicates that the stock is currently neutral.
What is the MACD signal for ELANCO ANIMAL HEALTH INC (ELAN) stock?
The MACD indicator for ELANCO ANIMAL HEALTH INC (ELAN) has a value of 0.0456472, indicating a bearish trend.
Can you provide the short term momentum for ELANCO ANIMAL HEALTH INC?
The short term momentum for ELANCO ANIMAL HEALTH INC (ELAN) is positive.