$EL
Added 2024-12-30 16:41:04 +0000 UTC$EL has been one of the worst performing stocks for 2024 and continues to search for support.
We can see that the descending channel has been a strict resistance and has not allowed the price action to breakout and reverse.
The 50 Day MA has been assisting this resistance too.
As long as the price stays in the channel, then the final Fib level at $50 on the 0.88 Fib is still a possibility.
I am not against the idea of adding this soon if a reversal comes.
