e.l.f. Beauty Gets a Quantitative Makeover

The stock of e.l.f.Beauty (ELF) was covered earlier this month, but it was upgraded to HOLD by theStreet.com's quantitative service. On April 2nd I said, "I cannot find any positives on the charts of ELF. A close below $17.75 is likely to open the way to further declines. Remain defensive." While a few more days of trading is often not that significant, a quantitative upgrade should not be ignored.

In this daily bar chart of ELF, below, we can see that prices have not made a new low since early March. The pullback in the second half of March could be considered a "retest" of the low. However you want to view it, we have not closed below our sell signal of $17.75 (see above). The daily On-Balance-Volume (OBV) line has inched up slightly from early March and the Moving Average Convergence Divergence (MACD) oscillator is back to the zero line and moving above the line will be an outright go long signal....97 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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