Elite Pharmaceuticals Inc (OTCMKTS:ELTP) Trading Outlook
We may see some consolidation but the trend is strong, this may move higher very soon.
ELITE PHARMA closed up 0.027 at 0.313. Volume was 306% above average (trending) and Bollinger Bands were 186% wider than normal.
Open High Low Close Volume___
0.292 0.322 0.281 0.313 3,621,790
Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 0.27 0.23 0.23
Volatility: 92 77 79
Volume: 2,826,656 1,039,507 1,140,238
The current market condition for ELITE PHARMA is:
Very Bullish
The close is currently Above it’s 200 period moving average.
The close is currently Above it’s 90 period moving average.
The close is currently Above it’s 30 period moving average.
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
Summary
ELITE PHARMA is currently 36.3% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods. Our volume indicators reflect moderate flows of volume into ELTP.PK (mildly bullish). Our trend forecasting oscillators are currently bullish on ELTP.PK and have had this outlook for the last 8 periods. Our momentum oscillator is currently indicating that ELTP.PK is currently in an overbought condition.
Momentum Indicators
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
Stochastic Oscillator
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 61.3793. This is not an overbought or oversold reading. The last signal was a buy 35 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 81.58. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 102 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 110.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 2 period(s) ago.
MACD
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 9 period(s) ago
Related News:
Tocca Life Holdings Inc (OTCMKTS:TLIF) FDA Application
Elite’s proprietary abuse deterrent technology, ART™, is a multi-particulate capsule which contains an opioid agonist in addition to naltrexone, an opioid antagonist used primarily in the management of alcohol dependence and opioid dependence. When this product is taken as intended, the naltrexone is designed to pass through the body unreleased while the opioid agonist releases as intended providing therapeutic pain relief for which it is prescribed. If the multi-particulate beads are crushed or dissolved, the opioid antagonist is designed to release and so block the effects of active opioid agonist. The absorption of the naltrexone is intended to block the euphoria by preferentially binding to the same receptors in the brain as the opioid agonist and thereby reducing the incentive for abuse or misuse by recreational drug abusers. Elite’s pharmacological approach to abuse-deterrence can be applied to a wide range of opioids used today in pain management. – See more at: http://globenewswire.com/news-release/2015/10/21/778504/0/en/Elite-Pharmaceuticals-Announces-Positive-Top-Line-Results-From-a-Pivotal-Phase-3-Study-for-Abuse-Deterrent-Opioid-ELI-200.html#sthash.1RhBckXR.dpuf
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