e.l.f. Beauty (ELF): Oversold and Ready for a Rebound
It has been quite some time since we last took a look at e.l.f. Beauty, and our previous conclusion was that we could be seeing some more selling pressure. We were right about it; after a brief relief pump, the stock sold off by more than 45%.
In the end, our prediction about ELF being due for a sell-off was correct, and we are now back in the targeted area. Although we haven't touched the HVN POC yet, the situation looks both promising and concerning at the same time.
Additionally, the RSI is oversold for the first time since October 2023. Given the current market conditions and the prevailing uncertainty, we are not planning to go long on ELF at this time. However, it does appear ready to either fall a bit more or take off. We will continue to monitor it closely and have already set alerts. If we see an upward push, we might consider entering on a retest, but for now, we're staying on the sidelines.
We hope this update has been helpful to you 🔥
In the end, our prediction about ELF being due for a sell-off was correct, and we are now back in the targeted area. Although we haven't touched the HVN POC yet, the situation looks both promising and concerning at the same time.
Additionally, the RSI is oversold for the first time since October 2023. Given the current market conditions and the prevailing uncertainty, we are not planning to go long on ELF at this time. However, it does appear ready to either fall a bit more or take off. We will continue to monitor it closely and have already set alerts. If we see an upward push, we might consider entering on a retest, but for now, we're staying on the sidelines.
We hope this update has been helpful to you 🔥
Exclusive Trading & Investing Group for Crypto & Stocks! 💎📈
Daily Stocks & Crypto Analysis | Daily Bitcoin ETF Updates | Trading Challenges & more
Join us:👇
🔗 wavemarketcapital.com/
Daily Stocks & Crypto Analysis | Daily Bitcoin ETF Updates | Trading Challenges & more
Join us:👇
🔗 wavemarketcapital.com/
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.