Elbit Systems Ltd. stock downgraded to Hold/Accumulate
(Updated on Nov 26, 2021)

The Elbit Systems Ltd. stock price fell by -3.29% on the last day (Friday, 26th Nov 2021) from $151.78 to $146.78. and has now fallen 3 days in a row. During the day the stock fluctuated 2.00% from a day low at $146.07 to a day high of $148.99. The price has been going up and down for this period, and there has been a -2.41% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -11 thousand shares and in total, 28 thousand shares were bought and sold for approximately $4.06 million.

Given the current short-term trend, the stock is expected to rise 6.65% during the next 3 months and, with a 90% probability hold a price between $156.54 and $173.18 at the end of this 3-month period.

Signals & Forecast

There are few to no technical positive signals at the moment. The Elbit Systems Ltd. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $151.32 and $151.21. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, October 27, 2021, and so far it has fallen -7.69%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements. The stock had a Golden Star Signal on Tuesday, October 12, 2021 in the short-term chart.

Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.

Support, Risk & Stop-loss

Elbit Systems Ltd. finds support from accumulated volume at $145.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.93 between high and low, or 2.00%. For the last week the stock has had a daily average volatility of 1.81%.

Elbit Systems 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: $139.89 (-4.69%) (This stock has low daily movements and this gives low risk. Low RSI14 is 23 which reduces the risk some. There is a sell signal from a pivot top found 21 days ago.)

Is Elbit Systems Ltd. stock A Buy?

Elbit Systems Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: -0.719

Remember To Visit Our YouTube Channel