ELKEM ASA (ELK.OL) Stock Technical Analysis
OSL:ELK - Euronext Oslo - NO0010816093 - Common Stock - Currency: NOK
Taking everything into account, ELK scores 2 out of 10 in our technical rating. ELK scores bad on all fronts: it is a bad performer in the overall market and both the medium and short term pictures are negative.
78% of all other stocks performed better in the past year than ELK.
In the last month ELK has a been trading in the 17.85 - 20.30 range, which is quite wide. It is currently trading near the high of this range.
Both the short term and long term trends are neutral. So this is not the most entertaining stock around.
ELK is an average performer in the Chemicals industry, it outperforms 50% of 66 stocks in the same industry.
ELK 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 ELK is lagging the market slightly.
Although the technical rating is bad, ELK does present a nice setup opportunity. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 19.75. Right above this resistance zone may be a good entry point.
More info and screens
16.42
23.76
5 important support areas can be observed.
- A support zone ranging from 19.12 to 19.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 18.44 to 18.64. This zone is formed by a combination of multiple trend lines in multiple time frames.
- A support zone ranging from 17.92 to 17.92. This zone is formed by a combination of multiple trend lines in the daily time frame.
- Support @17.15 from a horizontal line in the weekly time frame.
- A support zone ranging from 16.59 to 16.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
We can see 2 important resistance areas.
- A resistance zone ranging from 19.75 to 20.08. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @23.52 from a horizontal 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 ELK.OL is neutral. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ELK.OL is neutral. |
| ChartMill Relative Strength | 22.47 | NEGATIVE | ELK.OL has a low relative strength, it was outperformed by 77.53% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ELK.OL is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | DOWN | NEGATIVE | The current price of ELK.OL is below a declining SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of ELK.OL is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 54.39 | NEUTRAL | The RSI value for ELK.OL is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.08 | POSITIVE | The MACD value suggests ELK.OL has a positive trend. |
| Stochastics (14,3) | 57.9 | NEUTRAL | The Stochastics value for ELK.OL is a neutral value. |
| Average True Range in percent/ATR (20) | 3.43 | MEDIUM VOLATILITY | The ATR as a percentage value for ELK.OL suggests some volalility. |
| Average Directional Index/ADX (14) | 11.34 | NEGATIVE | The low ADX value for ELK.OL suggests a weak or negative 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)
OSL:ELK (5/28/2025, 7:00:00 PM)
19.74
+0.35 (+1.81%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryChemicals
Performance
% Chg1.81%
1 Week2.02%
2 Weeks-1.69%
1 Month0.2%
3 Month-13.27%
6 Month8.4%
12 Month-9.28%
2 Year-26.12%
3 Year-49.72%
5 Year11.71%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.64
ATR(20)%3.43%
ATR Inc13.11%
Range Today0.74
ADR(20)0.66
ADR(20)%3.32%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS22.47
Mansfield-0.23
10 Day High20.12
10 Day Low18.64
20 Day High20.3
20 Day Low17.85
52 Week High24.16
52 Week Low16.5
CS1 End19.65
CR1 Start19.75
Volume & EV
DER(3)2.91%
DER(5)1.12%
Volume1.15M
Volume Incr-13.42%
Vol(5)784.52K
Vol(50)944.29K