RSI low/high Values: [ 25 - 75 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of ELTK
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Weaker technical forecast for Eltek Ltd. as stock downgraded to Sell Candidate.
(Updated on Jun 18, 2024)

Sell candidate since Jun 18, 2024 PDF

The Eltek Ltd. stock price fell by -3.96% on the last day (Tuesday, 18th Jun 2024) from $10.60 to $10.18. During the last trading day the stock fluctuated 4.85% from a day low at $10.10 to a day high of $10.59. The price has fallen in 6 of the last 10 days and is down by -14.95% for this period. Volume has increased on the last day by 7 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 25 thousand shares were bought and sold for approximately $255.15 thousand.

The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $10.00 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 3.07% during the next 3 months and, with a 90% probability hold a price between $10.30 and $12.65 at the end of this 3-month period.

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ELTK Signals & Forecast

There are few to no technical positive signals at the moment. The Eltek Ltd. stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $10.71 and $11.00. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, May 29, 2024, and so far it has fallen -16.49%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Eltek Ltd. gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs".

Support, Risk & Stop-loss for Eltek Ltd. stock

Eltek Ltd. finds support from accumulated volume at $10.07 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.490 between high and low, or 4.85%. For the last week, the stock has had daily average volatility of 3.24%.

Eltek Ltd. is oversold on RSI14 (23). Some stocks may drop long and hard while being oversold on RSI before turning, which increases the general risk.

Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.

Trading Expectations (ELTK) For The Upcoming Trading Day Of Thursday 20th

For the upcoming trading day on Thursday, 20th we expect Eltek Ltd. to open at $10.29, and during the day (based on 14 day Average True Range), to move between $9.70 and $10.66, which gives a possible trading interval of +/-$0.478 (+/-4.69%) up or down from last closing price. If Eltek Ltd. takes out the full calculated possible swing range there will be an estimated 9.39% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $10.25 (0.69%) than the support at $10.07 (1.08%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Eltek Ltd. stock A Buy?

The Eltek Ltd. stock holds several negative signals and despite the positive trend, we believe Eltek Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

Current score: -3.114 Sell Candidate Downgraded

Predicted Opening Price for Eltek Ltd. of Thursday, June 20, 2024

Fair opening price June 20, 2024 Current price
$10.29 ( 1.08%) $10.18

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ELTK

Fibonacci Support & Resistance Levels

Level Price
R3 10.78 5.89%
R2 10.59 4.06%
R1 10.48 2.92%
Price 10.18
S1 10.10 -0.758%
S2 9.99 -1.89%
S3 9.80 -3.73%

Accumulated Volume Support & Resistance Levels

Level Price
R3 11.69 14.83%
R2 10.29 1.08%
R1 10.25 0.688%
Price 10.18
S1 10.07 -1.08%
S2 10.01 -1.67%
S3 9.73 -4.42%

ELTK Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Nov 28, 2023 Dec 12, 2023 Dec 21, 2023 $0.220 1.57%
2 Nov 23, 2022 Dec 09, 2022 Dec 19, 2022 $0.170 4.27%

FAQ

What is the symbol for Eltek Ltd. Stock and on which exchange is it traded?
The symbol for Eltek Ltd. is ELTK and it is traded on the NASDAQ (NASDAQ Stock Exchange).

Should I buy or sell Eltek Ltd. Stock?
The Eltek Ltd. stock holds several negative signals and despite the positive trend, we believe Eltek Ltd. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.

How to buy Eltek Ltd. Stock?
Eltek Ltd. Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Eltek Ltd. Stock.

What's the current price of Eltek Ltd. Stock?
As of the end of day on the Jun 18, 2024, the price of an Eltek Ltd. (ELTK) share was $10.18.

What is the 52-week high and low for Eltek Ltd. Stock?
The 52-week high for Eltek Ltd. Stock is $22.80 and the 52-week low is $7.06.

What is the market capitalization of Eltek Ltd. Stock?
As of the Jun 18, 2024, the market capitalization of Eltek Ltd. is 71.108M.

When is the next earnings date for Eltek Ltd.?
The upcoming earnings date for Eltek Ltd. is Aug 19, 2024.
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