Technical Analysis

Longer Term Trading Plans for ELVN

• NONE. Details

There is no current Support Plan to trigger a buy of this stock at this time. This usually means that there are no clear support levels at this time, so buying the stock as it falls could be considered catching a falling knife. Buy signals only exist if resistance breaks higher.
This often is a signal that the stock you are watching is weak. Waiting for a turn higher may be more intelligent than trying to catch a falling knife. In any case, new support levels are usually revised to the database at the beginning of the next trading session.

• Short ELVN slightly under 49.82, target n/a, stop loss @ 49.96 Details

The technical summary data is suggesting a short of ELVN as it gets near 49.82, but the downside target is not available from the current data. This tells us to hold that position if it is triggered until a new downside target has been established (updates occur at the beginning of every trading session) or until the position has been stopped. The summary data tells us to have a stop loss in place at 49.96. 49.82 is the first level of resistance above 45.84, and by rule, any test of resistance is a short signal. In this case, if resistance 49.82 is being tested, so a short signal would exist.

Swing Trading Plans for ELVN

• Buy ELVN slightly over 49.82, target 57.53, Stop Loss @ 49.68 Details

If 49.82 begins to break higher, the technical summary data tells us to buy ELVN just over 49.82, with an upside target of 57.53. The data also tells us to set a stop loss @ 49.68 in case the stock turns against the trade. 49.82 is the first level of resistance above 45.84, and by rule, any break above resistance is a buy signal. In this case, 49.82, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ELVN slightly near 49.82, target 45.6, Stop Loss @ 49.96. Details

The technical summary data is suggesting a short of ELVN if it tests 49.82 with a downside target of 45.6. We should have a stop loss in place at 49.96 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 49.82, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for ELVN

• Buy ELVN slightly over 46.99, target 49.82, Stop Loss @ 46.88 Details

If 46.99 begins to break higher, the technical summary data tells us to buy ELVN just over 46.99, with an upside target of 49.82. The data also tells us to set a stop loss @ 46.88 in case the stock turns against the trade. 46.99 is the first level of resistance above 45.84, and by rule, any break above resistance is a buy signal. In this case, 46.99, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short ELVN slightly near 46.99, target 45.78, Stop Loss @ 47.1. Details

The technical summary data is suggesting a short of ELVN if it tests 46.99 with a downside target of 45.78. We should have a stop loss in place at 47.1 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 46.99, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

ELVN Technical Summary | Raw Data for the Trading Plans