ELC Technical Analysis - ELICA SPA

Technical Rating and Analysis

We assign a technical rating of 6 out of 10 to ELC. In the past year, ELC was only an average performing stock in the market. The medium term picture is unclear, although we see some positive events in recent action.

The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.

ELC is one of the better performing stocks in the Household Durables industry, it outperforms 75% of 33 stocks in the same industry.

ELC is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ELC is lagging the market slightly.

In the last month ELC has a been trading in the 1.33 - 1.79 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

When compared to the yearly performance of all other stocks, ELC outperforms 60% of them, which is more or less in line with the market.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

ELC has an average technical rating and it also does not offer a high quality setup at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

1.36

1.97

We found 2 important support areas.

A support zone ranging from 1.46 to 1.46. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Support @1.37 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 4 important areas.

Resistance @1.73 from a horizontal line in the weekly time frame.
Resistance @1.77 from a horizontal line in the daily time frame.
Resistance @1.84 from a trend line in the daily time frame.
Resistance @1.95 from a horizontal line in the daily time frame.

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What is Support and Resistance

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Technical Indicator Signal Analysis

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	NEUTRAL	NEUTRAL	The long term trend for ELC.MI is neutral.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ELC.MI is up.
ChartMill Relative Strength	60.88	NEUTRAL	ELC.MI is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ELC.MI is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ELC.MI is above the rising SMA(50).
Simple Moving Average/SMA (200)	DOWN	MIXED	The current price of ELC.MI is above a declining SMA(200).
Relative Strength Index/RSI (14)	73.64	OVERBOUGHT	The high RSI value suggests ELC.MI may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.03	POSITIVE	The MACD value suggests ELC.MI has a positive trend, although the MACD value is declining.
Stochastics (14,3)	87.94	OVERBOUGHT	The high Stochastics value suggests ELC.MI may be overbought.
Average True Range in percent/ATR (20)	3.23	MEDIUM VOLATILITY	The ATR as a percentage value for ELC.MI suggests some volalility.
Average Directional Index/ADX (14)	32.67	POSITIVE	The high ADX value value for ELC.MI suggests a strong trend.