ELUTIA INC (ELUT) Stock Technical Analysis
NASDAQ:ELUT - Nasdaq - US05479K1060 - Common Stock - Currency: USD
We assign a technical rating of 2 out of 10 to ELUT. Recently some decent action could be observed, but in the medium term time frame this is still negative. ELUT was also a bad performer in the overall market in the last year.
The short term trend is neutral, while the long term trend is still negative. We need to see a little more continued positive action to make this really interesting.
86% of all other stocks performed better in the past year than ELUT.
ELUT is currently trading in the lower part of its 52 week range, which is not a good signal. Certainly not because the S&P500 Index is trading near new highs.
Warning: ELUT has an average volume of 24656 traded shares per day. This is quite low and it might be dangerous to invest in illiquid stocks.
In the last month ELUT has a been trading in the 1.76 - 2.44 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.
ELUT is part of the Biotechnology industry. There are 550 other stocks in this industry, ELUT did better than 45% of them.
Considerably lower volume is observed in the last couple of days.
Although the technical rating is bad, ELUT does present a nice setup opportunity. We see reduced volatility while prices have been consolidating in the most recent period. We notice that large players showed an interest for ELUT in the last couple of days, which is a good sign.
- Behavior of large players is measured by the Effective Volume indicator. This indicator inspects the 1 minute timeframe looking for high volume transactions.
More info and screens
1.70
5.01
When analyzing the support we can see 4 important areas.
- Support @1.89 from a trend line in the daily time frame.
- Support @1.84 from a horizontal line in the daily time frame.
- Support @1.81 from a trend line in the weekly time frame.
- Support @1.72 from a horizontal line in the weekly time frame.
4 important resistance areas can be observed.
- A resistance zone ranging from 2.00 to 2.07. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Resistance @2.16 from a trend line in the weekly time frame.
- Resistance @2.20 from a trend line in the daily time frame.
- Resistance @4.96 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 | DOWN | NEGATIVE | The long term trend for ELUT is down. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ELUT is neutral. |
| ChartMill Relative Strength | 14.5 | NEGATIVE | ELUT has a low relative strength, it was outperformed by 85.5% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of ELUT is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELUT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | NEGATIVE | The current price of ELUT is below a declining SMA(200). |
| Relative Strength Index/RSI (14) | 48.87 | NEUTRAL | The RSI value for ELUT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | NEGATIVE | The MACD value suggests ELUT has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 27.42 | NEUTRAL | The Stochastics value for ELUT is a neutral value. |
| Average True Range in percent/ATR (20) | 9.4 | HIGH VOLATILITY | The high ATR as a percentage value for ELUT suggests high volalility. |
| Average Directional Index/ADX (14) | 30.46 | POSITIVE | The high ADX value value for ELUT 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)
1.99
+0.02 (+1.02%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorHealth Care
GICS IndustryBiotechnology
Performance
% Chg1.02%
1 Week-2.45%
2 Weeks8.15%
1 Month0.51%
3 Month15.7%
6 Month-29.43%
12 Month-45.63%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.17
ATR(20)%9.4%
ATR Inc-42.67%
Range Today0.09
ADR(20)0.18
ADR(20)%9.2%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS14.5
Mansfield-3.97
10 Day High2.44
10 Day Low1.82
20 Day High2.44
20 Day Low1.76
52 Week High5.12
52 Week Low1.61
CS1 End1.89
CR1 Start2
Volume & EV
DER(3)21.05%
DER(5)8.44%
Volume11.00K
Volume Incr-66.09%
Vol(5)8.86K
Vol(50)24.66K