ELVA Technical Analysis - ELECTROVAYA INC

Technical Rating and Analysis

Overall ELVA gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, ELVA is showing a nice and steady performance.

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

Looking at the yearly performance, ELVA did better than 95% of all other stocks.

ELVA is one of the better performing stocks in the Electrical Equipment industry, it outperforms 93% of 16 stocks in the same industry.

ELVA is currently making a new 52 week high. This is a strong signal. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.

In the last month ELVA has a been trading in the 7.19 - 10.13 range, which is quite wide. It is currently trading near the high of this range.

Volume is considerably higher in the last couple of days, which is what you like to see during a strong movement up.

Prices have been rising strongly lately, it may be a good idea to wait for a consolidation or pullback before considering an entry.

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Technical Analysis

Relative Strength

ChartMill Trend Indicator

Simple Moving Average

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Weekly and Daily overview Charts

ELECTROVAYA INC / ELVA Weekly stock chart

ELECTROVAYA INC / ELVA Daily stock chart

Setup Rating and Analysis

Although ELVA 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

7.38

10.11

When analyzing the support we can see 2 important areas.

Support @7.71 from a trend line in the daily time frame.
A support zone ranging from 7.45 to 7.47. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

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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 ELVA.CA is up.
ChartMill Short Term Trend Indicator	UP	POSITIVE	The short term trend for ELVA.CA is up.
ChartMill Relative Strength	95.71	POSITIVE	ELVA.CA has a high relative strength, it outperformed 95.71% off all stocks on the market.
Simple Moving Average/SMA (20)	UP	POSITIVE	The current price of ELVA.CA is above the rising SMA(20).
Simple Moving Average/SMA (50)	UP	POSITIVE	The current price of ELVA.CA is above the rising SMA(50).
Simple Moving Average/SMA (200)	UP	POSITIVE	The current price of ELVA.CA is above the rising SMA(200).
Relative Strength Index/RSI (14)	72.26	OVERBOUGHT	The high RSI value suggests ELVA.CA may be overbought.
Moving Average Convergence Divergence/MACD (12, 26, 9)	0.1	POSITIVE	The MACD value suggests ELVA.CA has a positive trend.
Stochastics (14,3)	91.28	OVERBOUGHT	The high Stochastics value suggests ELVA.CA may be overbought.
Average True Range in percent/ATR (20)	5.66	HIGH VOLATILITY	The high ATR as a percentage value for ELVA.CA suggests high volalility.
Average Directional Index/ADX (14)	40.39	POSITIVE	The high ADX value value for ELVA.CA suggests a strong trend.