ELKEM ASA (ELK.OL) Stock Technical Analysis
OSL:ELK - Euronext Oslo - NO0010816093 - Common Stock - Currency: NOK
Overall ELK gets a technical rating of 8 out of 10. Although ELK is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.
The long and short term trends are both positive. This is looking good!
ELK is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so ELK is performing more or less in line with the market.
In the last month ELK has a been trading in the 18.64 - 23.50 range, which is quite wide. It is currently trading near the high of this range.
When comparing the performance of all stocks over the past year, ELK turns out to be only a medium performer in the overall market: it outperformed 61% of all stocks.
ELK is part of the Chemicals industry. There are 69 other stocks in this industry, ELK did better than 61% of them.
Although ELK 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
16.42
23.88
4 important support areas can be observed.
- A support zone ranging from 19.63 to 19.92. 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 18.69 to 18.95. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @17.15 from a horizontal line in the weekly time frame.
- Support @16.59 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 23.52 to 23.64. 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 | UP | POSITIVE | The long term trend for ELK.OL is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ELK.OL is up. |
| ChartMill Relative Strength | 61.02 | NEUTRAL | ELK.OL is not amongst the best or worst performers 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) | UP | POSITIVE | The current price of ELK.OL is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ELK.OL is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 70.24 | OVERBOUGHT | The high RSI value suggests ELK.OL may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0.31 | POSITIVE | The MACD value suggests ELK.OL has a positive trend, although the MACD value is declining. |
| Stochastics (14,3) | 91.33 | OVERBOUGHT | The high Stochastics value suggests ELK.OL may be overbought. |
| Average True Range in percent/ATR (20) | 3.19 | MEDIUM VOLATILITY | The ATR as a percentage value for ELK.OL suggests some volalility. |
| Average Directional Index/ADX (14) | 32.6 | POSITIVE | The high ADX value value for ELK.OL 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)
OSL:ELK (6/19/2025, 12:27:08 PM)
23.3
+0.54 (+2.37%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryChemicals
Performance
% Chg2.37%
1 Week3.45%
2 Weeks15.83%
1 Month15.95%
3 Month0.8%
6 Month32.94%
12 Month10.16%
2 Year-8.37%
3 Year-27.47%
5 Year16.06%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.77
ATR(20)%3.19%
ATR Inc11.24%
Range Today0.9
ADR(20)0.7
ADR(20)%3.01%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS61.02
Mansfield0.97
10 Day High23.5
10 Day Low19.87
20 Day High23.5
20 Day Low18.64
52 Week High24.16
52 Week Low16.5
CS1 End19.92
CR1 Start23.52
Volume & EV
DER(3)0.49%
DER(5)-0.3%
Volume249.29K
Volume Incr43.84%
Vol(5)1.27M
Vol(50)998.15K