ELME Technical Analysis - ELME COMMUNITIES

Technical Rating and Analysis

Taking everything into account, ELME scores 5 out of 10 in our technical rating. ELME has been an average performer in the overall market. We also notice some doubts in the very recent evolution, but in the medium term things are still fine.

The long term trend is positive and the short term trend is neutral. The long term trend may just continue or reversal may be around the corner!

ELME is one of the better performing stocks in the Residential REITs industry, it outperforms 94% of 20 stocks in the same industry.

ELME has an average volume of 1149900 traded shares per day. This is a good sign as it is always nice to have a liquid stock.

When compared to the yearly performance of all other stocks, ELME outperforms 40% of them, which is more or less in line with the market.

ELME is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so ELME is lagging the market.

In the last month ELME has a been trading in a tight range between 16.66 and 17.25.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ELME COMMUNITIES / ELME Weekly stock chart

ELME COMMUNITIES / ELME Daily stock chart

Setup Rating and Analysis

ELME has only a medium technical rating, but it does show a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 16.78. Right above this resistance zone may be a good entry point.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

14.54

17.84

We found 3 important support areas.

A support zone ranging from 15.41 to 15.50. This zone is formed by a combination of multiple trend lines in multiple time frames.
Support @15.07 from a horizontal line in the weekly time frame.
Support @14.69 from a horizontal line in the daily time frame.

When analyzing the resistance we notice 2 important areas.

A resistance zone ranging from 16.78 to 17.23. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
Resistance @17.66 from a horizontal line in the weekly time frame.

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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	UP	POSITIVE	The long term trend for ELME is up.
ChartMill Short Term Trend Indicator	NEUTRAL	NEUTRAL	The short term trend for ELME is neutral.
ChartMill Relative Strength	40.65	NEUTRAL	ELME is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	DOWN	NEGATIVE	The current price of ELME is below a declining SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ELME is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ELME is above the rising SMA(200).
Relative Strength Index/RSI (14)	45.46	NEUTRAL	The RSI value for ELME is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	-0.03	NEGATIVE	The MACD value suggests ELME has a negative trend.
Stochastics (14,3)	22.32	NEUTRAL	The Stochastics value for ELME is a neutral value.
Average True Range in percent/ATR (20)	1.13	LOW VOLATILITY	The low ATR as a percentage value for ELME suggests low volalility.
Average Directional Index/ADX (14)	14.04	NEGATIVE	The low ADX value for ELME suggests a weak or negative trend.