COMPANHIA PARANAENSE DE ENER (ELP) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:ELP - US20441B6056 - ADR
Taking everything into account, ELP scores 8 out of 10 in our technical rating. In the last year, ELP was one of the better performers, but we do observe some doubts in the very recent evolution.
Besides having an excellent technical rating, ELP also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 10.16, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
8.73
5 important support areas can be observed.
- A support zone ranging from 10.05 to 10.16. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @9.80 from a trend line in the weekly time frame.
- Support @9.61 from a trend line in the daily time frame.
- Support @9.04 from a horizontal line in the weekly time frame.
- A support zone ranging from 8.82 to 8.88. This zone is formed by a combination of multiple trend lines in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 10.93 to 10.95. 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 ELP is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for ELP is down. |
| ChartMill Relative Strength | 91.26 | POSITIVE | ELP has a high relative strength, it outperformed 91.26% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of ELP is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELP is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ELP is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 44.45 | NEUTRAL | The RSI value for ELP is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.08 | NEGATIVE | The MACD value suggests ELP has a negative trend. |
| Stochastics (14,3) | 16.24 | OVERSOLD | The low Stochastics value suggests ELP may be oversold. |
| Average True Range in percent/ATR (20) | 3.03 | MEDIUM VOLATILITY | The ATR as a percentage value for ELP suggests some volalility. |
| Average Directional Index/ADX (14) | 24.84 | NEUTRAL | The ADX value for ELP suggests a possible start of a new trend. |
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 |
|---|---|---|---|
| 10.58 | 10.04 | 0.54 (5.07%) | 19.73% |
| An entry @10.58. This is a Buy Stop order right above the 10 day moving average. | An exit @10.04. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.54 points, which is 5.07%. | When investing 19.73% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
10.22
+0.05 (+0.49%)
COMPANHIA PARANAENSE DE ENER / ELP FAQ
What is the ChartMill technical rating of COMPANHIA PARANAENSE DE ENER (ELP) stock?
ChartMill assigns a technical rating of 8 / 10 to ELP.
What is the trend direction for ELP stock?
The current trend direction for COMPANHIA PARANAENSE DE ENER (ELP) is Bullish.
What is the RSI signal for ELP stock?
COMPANHIA PARANAENSE DE ENER (ELP) has an RSI value of 44.4482. This indicates that the stock is currently neutral.
Can you provide the short term momentum for COMPANHIA PARANAENSE DE ENER?
The short term momentum for COMPANHIA PARANAENSE DE ENER (ELP) is negative.
What is the support and resistance level for ELP stock?
COMPANHIA PARANAENSE DE ENER (ELP) has a support level at 10.16 and a resistance level at 10.93. Check the full technical report for our detailed analysis of ELP support and resistance levels.