Elan Corp PLC - Barchart's Chart of the Day

Elan Corp PLC (ELN) is the Chart of the Day.  The specialty pharmaceutical company has a Trend Spotter buy, a Weighted Alpha of 85.20+ and gained 75.34% in the last year.


The Chart of the Day is Elan Corp PLC (ELN).  I found the stock by sorting today's New High List for frequency and the stock advance is 21 of the last 21 sessions!  Since the Trend Spotter signaled a buy on 8/16 the stock gained 20.63%.

It is a specialty pharmaceutical company focused on the discovery, development and marketing of therapeutic products and services in neurology, acute care and pain management and on the development and commercialization of products using its extensive range of proprietary drug delivery technologies.

Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.

Barchart technical indicators:

• 96% Barchart technical buy signals
• Trend Spotter buy signal
• Above its 20, 50 and 100 day moving averages
• 21 new highs and up 14.27% in the last month
• Relative Strength Index 86.52%
• Barchart computes a technical support level at 17.98
• Recently traded at 18.12 with a 50 day moving average of 16.53

Fundamental factors:

• Market Cap $9.28 billion
• Analysts predict revenue will be down 86.00% this year buy up 89.00% next year
• Earnings are estimated to increase 2,000.00% this year, decrease 94.30% next year but increase annually by 2.20% over the next 5 years
• Wall Street analysts issued 5 hold recommendations on this stock

With such erratic forecasts of revenue and earnings this is definitely a technical and not a fundamental play.  Be disciplined and use the 50 day moving average as an exit signal.