ELEDON PHARMACEUTICALS INC (ELDN) Technical Analysis
NASDAQ:ELDN • US28617K1016
Taking everything into account, ELDN scores 8 out of 10 in our technical rating. ELDN has been one of the better performers in the overall market. Some doubts were observed in the medium time frame, but recent action was again very positive.
- The long term trend is still neutral, but the short term trend is positive, so the stock is getting more and more appreciated by traders and investors.
- In the last month ELDN has a been trading in the 1.98 - 2.79 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 comparing the yearly performance of all stocks, we notice that ELDN is one of the better performing stocks in the market, outperforming 84% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
- ELDN is an average performer in the Biotechnology industry, it outperforms 66% of 519 stocks in the same industry.
- ELDN is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so ELDN is lagging the market slightly.
- Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.
Although ELDN has an excellent technical rating, it 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.
More info and screens
1.70
We found 1 important support area.
- Support @1.72 from a trend line in the daily time frame.
2 important resistance areas can be observed.
- Resistance @3.98 from a trend line in the weekly time frame.
- Resistance @4.11 from a trend line in the weekly time frame.
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 ELDN is neutral. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ELDN is up. |
| ChartMill Relative Strength | 84.94 | POSITIVE | ELDN has a high relative strength, it outperformed 84.94% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ELDN is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELDN is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of ELDN is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 70.89 | OVERBOUGHT | The high RSI value suggests ELDN may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.04 | POSITIVE | The MACD value suggests ELDN has a positive trend. |
| Stochastics (14,3) | 85.71 | OVERBOUGHT | The high Stochastics value suggests ELDN may be overbought. |
| Average True Range in percent/ATR (20) | 6.33 | HIGH VOLATILITY | The high ATR as a percentage value for ELDN suggests high volalility. |
| Average Directional Index/ADX (14) | 27.64 | POSITIVE | The high ADX value value for ELDN suggests a strong trend. |
ELDN Technicals: Chart, Performance Metrics, Trend & Indicators
2.78
+0.16 (+6.11%)
ELEDON PHARMACEUTICALS INC / ELDN FAQ
What is the technical rating for ELDN stock?
ChartMill assigns a technical rating of 8 / 10 to ELDN.
What is the trend direction for ELDN stock?
The current trend direction for ELEDON PHARMACEUTICALS INC (ELDN) is Bearish.
What is the RSI signal for ELDN stock?
ELEDON PHARMACEUTICALS INC (ELDN) has an RSI value of 70.8891. This indicates that the stock is currently overbought.
What is the short term momentum for ELDN stock?
The short term momentum for ELEDON PHARMACEUTICALS INC (ELDN) is positive.