Elders Limited (ELD.ASX)

2 May 2018

Technical Summary: Lovely 5 year chart for ELD as the stock has found its way from below $1 per share to $8.50 today. There are two key points on the chart above. The first was the clear base breakout in the middle of November last year. The second was when the stock became overextended after a fantastic run where the price moved from $5.30 per share and peaked at $8.81. The stock here was clearly overextended and needed to pull back. On the pullback the stock pulled back to where it found support at around $6.50 per share. The stock then ran off this support and rallied higher where it has met a bit of overhead resistance selling. At this stage it looks like there needs to be a bit of consolidation and a bit of time. There is the potential that this sets up nicely again.

Lovely long term uptrend for ELD

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