$EL
Added 2024-11-06 19:17:22 +0000 UTCContinues to drop and has not broken out of this very abrupt harsh looking descending wedge.
The 0.618 Fib is lost now at $87 and it looks like they are in the same dilemma as $SMCI but in fact their chart is worse looking
Probably very unfair to be this low.....which to me may mean there is an opportunity here brewing when support is found.
The last Fib support level is at 0.887 Fib at $50....a perfectly round and attractive number, a far cry from $374 in 2022.
Earnings are still beating and dividends are still being paid.....but there is clearly something not right here, I suspect it's the new comers in the sector
It's time for $EL to dig into its experience and turn this around, eyes will be on $50 for a test of support.
Comments
Sephora is very big in Canada, not sure elsewhere. They are always busy and I buy a lot of products from there. Would be interested in seeing their chart.
Joanne Koivuneva
2024-11-06 23:31:22 +0000 UTC$ELF and $ULTA yes
Gareth Neary
2024-11-06 19:31:56 +0000 UTCdo you suspect ELF is contributing partially to this downfall? ELFs growth looks phenomenal. 14 straight quarters of double beats for EPS AND REVENUE
Daniel
2024-11-06 19:23:54 +0000 UTC
