ELF Off watchlist

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mlin828
Mar 28, 2023 10:25 AM 0 Answers
Member Since Feb 2023
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Hi, Marty,

I have followed your twitter for long time, but join MC Chart just a month. I have a question: when you say you take ELF off watch list, do you mean that we should sell the stock? SInce it is 64% above 200ma, kind of extended, or exhausted.

Thanks a lot! Have a great day!

Min

Min,

By "taking ELF off the watch list" I mean it is too risky to buy at these levels. The stock needs some time to allow the moving averages to catch up. At 64% above the 200sma it needs to trade sideways. But, I see no sell signs in that stock.   It is just a hold if you own it, and not a buy or a sell at this time. The relative strength in this stock is better than most.

If this stock can pull back just a little bit, and take a  breather, then maybe it will reappear on our watch list. It is a strong stock that I really like!

I hope this answers your question!

Regards,

Marty

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