Elders (ELD.ASX)

16 March 2022

Technical charting analysis: ELD has been range-bound over the last 12 months, since its strong rally in 2019-2020 recovering from troubling drought conditions and avoiding a covid related sell off. ELD stock did appear to find some resistance at the $12.40 level and has recently broken well past that hitting a decade high of $13.60. It is still too early to identify a new support level yet but assuming no adverse impacts it could see new support around the $12.50 and over the medium-term continue to trend higher

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