Technical Analysis: We can see Elders had a strong run post covid. Elders managed to buck market trends earlier this year jumping on strong earnings upgrade in March and May 2022 while the rest of the market was sold off, it shows the stock is overbought above $13.00 level, with support at $11.50 tested and has rebounded numerus times. Elders does appear oversold when below $11.00, but with a slower growth outlook it could trade at lower range over the near term and could open up an opportunity to buy below $10.00, while unlike earlier we wouldn’t be buyers above $11.00 until we see market volatility subside.
