ELTK Technical Analysis - ELTEK LTD

Technical Rating and Analysis

We assign a technical rating of 8 out of 10 to ELTK. Although ELTK is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

ELTK is one of the lesser performing stocks in the Electronic Equipment, Instruments & Components industry. 60% of 124 stocks in the same industry do better.

Warning: ELTK has an average volume of 6629 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.

Both the short term and long term trends are positive. This is a very positive sign.

ELTK 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 ELTK is lagging the market slightly.

In the last month ELTK has a been trading in the 9.90 - 11.30 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, ELTK turns out to be only a medium performer in the overall market: it outperformed 61% of all stocks.

Considerably lower volume is observed in the last couple of days.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

Setup Rating and Analysis

Although ELTK 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.

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ChartMill Technical Ratings

Pocket Pivots

Bull Flags

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Support and Resistance Analysis

9.80

12.03

3 important support areas can be observed.

A support zone ranging from 10.40 to 10.69. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
A support zone ranging from 10.08 to 10.12. This zone is formed by a combination of multiple trend lines in multiple time frames.
A support zone ranging from 9.90 to 9.92. This zone is formed by a combination of multiple trend lines in the daily time frame.

We can see 3 important resistance areas.

A resistance zone ranging from 11.31 to 11.40. This zone is formed by a combination of multiple trend lines in multiple time frames.
Resistance @11.59 from a horizontal line in the weekly time frame.
Resistance @11.91 from a horizontal line in the weekly time frame.

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What is Support and Resistance

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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 ELTK is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ELTK is up.
ChartMill Relative Strength	61.6	NEUTRAL	ELTK is not amongst the best or worst performers on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ELTK is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ELTK is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ELTK is above the rising SMA(200).
Relative Strength Index/RSI (14)	69.42	NEUTRAL	The RSI value for ELTK is a neutral value.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.06	POSITIVE	The MACD value suggests ELTK has a positive trend, although the MACD value is declining.
Stochastics (14,3)	98.48	OVERBOUGHT	The high Stochastics value suggests ELTK may be overbought.
Average True Range in percent/ATR (20)	1.84	LOW VOLATILITY	The low ATR as a percentage value for ELTK suggests low volalility.
Average Directional Index/ADX (14)	16.68	NEGATIVE	The low ADX value for ELTK suggests a weak or negative trend.