ELEVATE CREDIT INC (ELVT) Stock Technical Analysis
NYSE:ELVT - New York Stock Exchange, Inc. - US28621V1017 - Common Stock - Currency: USD
Taking everything into account, ELVT scores 6 out of 10 in our technical rating. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, ELVT is a bad performer.
ELVT has an average technical rating and the quality of the presented setup is also not ideal 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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1.72
When analyzing the support we notice one important area.
- A support zone ranging from 1.74 to 1.84. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 1.88 to 1.88. 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 ELVT is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for ELVT is up. |
| ChartMill Relative Strength | 21.69 | NEGATIVE | ELVT has a low relative strength, it was outperformed by 78.31% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ELVT is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ELVT is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | DOWN | MIXED | The current price of ELVT is above a declining SMA(200). |
| Relative Strength Index/RSI (14) | 69.2 | NEUTRAL | The RSI value for ELVT is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | 0 | POSITIVE | The MACD value suggests ELVT has a positive trend. |
| Stochastics (14,3) | 94.54 | OVERBOUGHT | The high Stochastics value suggests ELVT may be overbought. |
| Average True Range in percent/ATR (20) | 1.16 | LOW VOLATILITY | The low ATR as a percentage value for ELVT suggests low volalility. |
| Average Directional Index/ADX (14) | 37.62 | POSITIVE | The high ADX value value for ELVT suggests a strong 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 |
|---|---|---|---|
| 1.89 | 1.81 | 0.08 (4.23%) | 23.63% |
| An entry @1.89. This is a Buy Stop order right above the resistance zone. | An exit @1.81. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 0.08 points, which is 4.23%. | For a 1.00% total portfolio risk, you can invest 23.63% of your capital in this trade. |
- 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.
NYSE:ELVT (2/27/2023, 8:04:00 PM)
1.87
+0.01 (+0.54%)