ELECTRA BATTERY MATERIALS CO (ELBM) Stock Technical Analysis
NASDAQ:ELBM - Nasdaq - CA28474P7065 - Common Stock - Currency: USD
Taking everything into account, ELBM scores 4 out of 10 in our technical rating. In the past year, ELBM was a below average performing stock in the market. The medium term picture is also negative, but we see some improvement happening in recent action.
Although the technical rating is only medium, ELBM does present a nice setup opportunity. 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 1.18. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 1.11, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for ELBM in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
- 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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4 important support areas can be observed.
- A support zone ranging from 1.11 to 1.11. 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 1.06 to 1.06. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @1.04 from a horizontal line in the daily time frame.
- Support @0.98 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 1.18 to 1.18. 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 | DOWN | NEGATIVE | The long term trend for ELBM is down. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ELBM is up. |
| ChartMill Relative Strength | 12.84 | NEGATIVE | ELBM has a low relative strength, it was outperformed by 87.16% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ELBM is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELBM is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ELBM is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 62.44 | NEUTRAL | The RSI value for ELBM is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.01 | POSITIVE | The MACD value suggests ELBM has a positive trend. |
| Stochastics (14,3) | 97.24 | OVERBOUGHT | The high Stochastics value suggests ELBM may be overbought. |
| Average True Range in percent/ATR (20) | 4.23 | MEDIUM VOLATILITY | The ATR as a percentage value for ELBM suggests some volalility. |
| Average Directional Index/ADX (14) | 27.3 | POSITIVE | The high ADX value value for ELBM suggests a strong trend. |
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+0.02 (+1.68%)