ELORO RESOURCES LTD (ELO.CA) Stock Technical Analysis
TSX-V:ELO - TSX Venture Exchange - CA2899003008 - Common Stock - Currency: CAD
We assign a technical rating of 8 out of 10 to ELO. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ELO is only an average performer.
Both the short term and long term trends are positive. This is a very positive sign.
ELO is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so ELO is lagging the market slightly.
In the last month ELO has a been trading in the 1.10 - 1.33 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
When comparing the performance of all stocks over the past year, ELO turns out to be only a medium performer in the overall market: it outperformed 67% of all stocks.
ELO is part of the Metals & Mining industry. There are 808 other stocks in this industry, ELO did better than 52% of them.
ELO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 1.23, a Stop Loss order could be placed below this zone.
More info and screens
0.82
1.29
We found 5 important support areas.
- A support zone ranging from 1.22 to 1.23. 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 1.14 to 1.14. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @0.88 from a trend line in the weekly time frame.
- A support zone ranging from 0.85 to 0.86. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @0.83 from a horizontal line in the daily time frame.
When analyzing the resistance we notice one important area.
- Resistance @1.28 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 | UP | POSITIVE | The long term trend for ELO.CA is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ELO.CA is up. |
| ChartMill Relative Strength | 67.84 | NEUTRAL | ELO.CA is not amongst the best or worst performers on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ELO.CA is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELO.CA is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ELO.CA is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 56.41 | NEUTRAL | The RSI value for ELO.CA is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests ELO.CA has a negative trend. |
| Stochastics (14,3) | 76.97 | NEUTRAL | The Stochastics value for ELO.CA is a neutral value. |
| Average True Range in percent/ATR (20) | 5.56 | HIGH VOLATILITY | The high ATR as a percentage value for ELO.CA suggests high volalility. |
| Average Directional Index/ADX (14) | 18.99 | NEGATIVE | The low ADX value for ELO.CA 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)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 1.29 | 1.21 | 0.08 (6.20%) | 16.12% |
| An entry @1.29. This is a Buy Stop order right above the resistance zone. | An exit @1.21. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.08 points, which is 6.20%. | For a 1.00% total portfolio risk, you can invest 16.12% of your capital in this trade. |
- The distance between exit and entry is rather small compared to the average daily movement of ELO. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
TSX-V:ELO (7/4/2025, 7:00:00 PM)
1.24
0 (0%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg0%
1 Week-1.59%
2 Weeks6.9%
1 Month4.2%
3 Month44.19%
6 Month42.53%
12 Month-8.15%
2 Year-61.85%
3 Year-70.82%
5 Year24%
10 Year853.85%
15 Year342.86%
Volatility
ATR(14)0.06
ATR(20)%5.56%
ATR Inc-21.35%
Range Today0.03
ADR(20)0.07
ADR(20)%5.48%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS67.84
Mansfield1.27
10 Day High1.3
10 Day Low1.1
20 Day High1.33
20 Day Low1.1
52 Week High1.46
52 Week Low0.77
CS1 End1.23
CR1 Start1.28
Volume & EV
DER(3)0%
DER(5)0%
Volume13.80K
Volume Incr-14.66%
Vol(5)71.49K
Vol(50)71.44K