ELKEM ASA (ELK.OL) Stock Technical Analysis
OSL:ELK - Euronext Oslo - NO0010816093 - Common Stock - Currency: NOK
We assign a technical rating of 8 out of 10 to ELK. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, ELK is only an average performer.
Both the short term and long term trends are positive. This is a very positive sign.
ELK is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so ELK slightly outperforms the market at the moment.
In the last month ELK has a been trading in the 20.64 - 24.14 range, which is quite wide. It is currently trading near the high of this range.
ELK has an average volume of 1407840 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that ELK is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
ELK is part of the Chemicals industry. There are 61 other stocks in this industry, ELK did better than 66% of them.
Considerably lower volume is observed in the last couple of days.
Besides having an excellent technical rating, ELK also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 23.64. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 22.79, a Stop Loss order could be placed below this zone.
More info and screens
16.42
23.88
When analyzing the support we can see 4 important areas.
- A support zone ranging from 22.36 to 22.79. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 21.76 to 21.82. This zone is formed by a combination of multiple trend lines in the daily time frame.
- A support zone ranging from 16.99 to 17.15. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @16.59 from a horizontal line in the daily time frame.
We found 1 important resistance area.
- A resistance zone ranging from 23.64 to 23.64. This zone is formed by a combination of multiple trend lines in multiple time frames.
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS73.08
Mansfield1.18
10 Day High23.56
10 Day Low21.82
20 Day High24.14
20 Day Low20.64
52 Week High24.14
52 Week Low16.5
Performance
1 Week2.2%
2 Weeks-1.86%
1 Month5.17%
3 Month24.33%
6 Month35.12%
12 Month5.84%
2 Year-34.5%
3 Year-38.69%
5 Year75.76%
10 YearN/A
15 YearN/A
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)
Technical Indicators
MACD(12,26,9)-0.17
RSI(14)59.52
LBB22.11
UBB23.76
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 |
|---|---|---|---|
| 23.65 | 22.35 | 1.30 (5.50%) | 18.19% |
| An entry @23.65. This is a Buy Stop order right above the resistance zone. | An exit @22.35. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.30 points, which is 5.50%. | When investing 18.19% 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.
OSL:ELK (3/7/2025, 7:00:00 PM)
23.2
+0.26 (+1.13%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryChemicals
Performance
% Chg1.13%
1 Week2.2%
2 Weeks-1.86%
1 Month5.17%
3 Month24.33%
6 Month35.12%
12 Month5.84%
2 Year-34.5%
3 Year-38.69%
5 Year75.76%
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.62
ATR(20)%3.21%
ATR Inc-5.62%
Range Today0.5
ADR(20)0.65
ADR(20)%2.78%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS73.08
Mansfield1.18
10 Day High23.56
10 Day Low21.82
20 Day High24.14
20 Day Low20.64
52 Week High24.14
52 Week Low16.5
CS1 End22.79
CR1 Start23.64
Volume & EV
DER(3)0.78%
DER(5)2.04%
Volume682.38K
Volume Incr-27.47%
Vol(5)821.90K
Vol(50)1.41M