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US Technical Analysis Report

One NYSE Listed- Personal Care Stock Poised for Upside as Russell 3000 Edged Higher– ELF

Nov 08, 2024

ELF:NYSE
Investment Type
Mid - Cap
Risk Level
Action
Rec. Price (US$)

Company Overview:  ELF Beauty, Inc. (NYSE: ELF) is a multi-brand beauty company. The Company offers inclusive, accessible, clean, vegan, and cruelty-free cosmetics and skincare products. This Report covers the Price Action, Technical Indicators Analysis along with the Target Levels, Stop Loss, Support Levels, Resistance Levels, and Recommendation on stock.

US Markets Round-Up

This week, the Russell 3000 index, an important benchmark of the US stock market across market capitalizations, started the week on a positive note and continued the momentum. The index made high of 3424.494 during the week and settled at 3418.693 with a week-to-date (WTD) gain of ~4.618 percent on Nov 7, 2024. Other major indices, such as S&P 500 and NASDAQ Composite displayed upside move for the week. On Nov 7, 2024, the S&P 500 index settled at 5973.09 with a WTD gain of ~4.69 percent, while the NASDAQ Composite Index settled at 19269.459 with a WTD gain of ~5.644 percent. 

Having understood the US market performance over the week, taking cues from major global news, and based on technical analysis of the Russell 3000 index for the upcoming week, now let’s have a look at the one NYSE-listed stock to pick from the technical standpoint. Noted below recommendation is based on the entry price, target prices, and stop-loss for ELF Beauty, Inc. (NYSE: ELF) for the next 2-4 weeks duration: 

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