ELEDON PHARMACEUTICALS INC (ELDN) Stock Technical Analysis
NASDAQ:ELDN - Nasdaq - US28617K1016 - Common Stock - Currency: USD
We assign a technical rating of 8 out of 10 to ELDN. Although ELDN has been one of the better performers in the overall market, we have a mixed picture in the medium term time frame. But recently some decent action can be observed again.
The short term trend is positive, while the long term trend is neutral. So this is evolving in the right direction.
When comparing the yearly performance of all stocks, we notice that ELDN is one of the better performing stocks in the market, outperforming 85% of all stocks.
ELDN is one of the better performing stocks in the Biotechnology industry, it outperforms 78% of 558 stocks in the same industry.
In the last month ELDN has a been trading in the 2.60 - 4.08 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.
ELDN is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ELDN is lagging 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.
Although ELDN has an excellent technical rating, it does not present a decent entry opportunity 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
2.72
3.96
When analyzing the support we notice one important area.
- Support @2.75 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 3.89 to 3.92. This zone is formed by a combination of multiple trend lines in the daily 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 | 85.86 | POSITIVE | ELDN has a high relative strength, it outperformed 85.86% 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) | UP | POSITIVE | The current price of ELDN is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.23 | OVERBOUGHT | The high RSI value suggests ELDN may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.09 | POSITIVE | The MACD value suggests ELDN has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 80.36 | OVERBOUGHT | The high Stochastics value suggests ELDN may be overbought. |
| Average True Range in percent/ATR (20) | 6.04 | HIGH VOLATILITY | The high ATR as a percentage value for ELDN suggests high volalility. |
| Average Directional Index/ADX (14) | 32.74 | POSITIVE | The high ADX value value for ELDN suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
3.75
-0.03 (-0.79%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg-0.79%
1 Week8.7%
2 Weeks22.55%
1 Month33.45%
3 Month25.42%
6 Month-6.72%
12 Month38.89%
2 Year171.74%
3 Year24.58%
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.24
ATR(20)%6.04%
ATR Inc-21.29%
Range Today0.17
ADR(20)0.22
ADR(20)%5.77%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS85.86
Mansfield-0.07
10 Day High4.09
10 Day Low3
20 Day High4.09
20 Day Low2.6
52 Week High5.54
52 Week Low2.38
CS1 End2.75
CR1 Start3.89
Volume & EV
DER(3)1.26%
DER(5)0.31%
Volume457.00K
Volume Incr3.63%
Vol(5)732.12K
Vol(50)463.52K