ELF - longer-term uptrend still intact
ELF has been one of the strong trending stocks since it broke above its 200 day moving average in Jun 2022. Despite the recent steep corrections experienced by the market in the past few weeks, ELF had only dipped briefly below it's 50 day moving average.
Every reversion back to it's 50 day moving average as potential opportunity to long. with a trailing stop loss about 10% below the 50 day MA is prudent for the longer term investor.
A swing trader would have a tighter trailing stop and on the lookout for re-entries on the long side as long as the trend remains intact.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
Every reversion back to it's 50 day moving average as potential opportunity to long. with a trailing stop loss about 10% below the 50 day MA is prudent for the longer term investor.
A swing trader would have a tighter trailing stop and on the lookout for re-entries on the long side as long as the trend remains intact.
Disclaimer: Just my 2 cents and not a trade advice. Kindly do your own due diligence and trade according to your own risk tolerance and don't forget that money management is important! Take care and Good Luck!
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