Elevate Credit, Inc. stock trades under the ticker ELVT & has show recent bullish signals that traders & investors should take note of.
ELVT stock closed at $3.92/share on 11/5/2021 & looks poised to continue climbing.
Elevate Credit Inc. ELVT Stock’s Technicals Broken Down
ELVT Stock Price: $3.92
10 Day Moving Average: $3.55
50 Day Moving Average: $3.62
200 Day Moving Average: $3.70
RSI: 60.6
MACD: -0.027
ELVT completed a bullish MACD crossover yesterday, on higher than average volume compared to the rest of the year, which is a bullish signal.
Additionally, the price broke out above & closed above the 10, 50 & 200 Day Moving Averages.
The $4.10 & $4.26 price levels are the next levels of resistance for traders to be targeting & ELVT’s share price continues to climb.
Elevate Credit Inc. ELVT Stock As A Long-Term Investment
Long-term oriented investors will like ELVT stock’s P/B of 0.81, however their P/E (ttm) is not positive, which investors will typically not be fond of.
ELVT’s Quarterly Revenue Growth Y-o-Y is not stellar, at -28% & their balance sheet is also looking questionable.
ELVT has Total Cash (mrq) of $105.8M & Total Debt (mrq) of $361.8M, which also may not be suitable to most investors’ portfolio strategies.
With no Dividend Yield & the above mentioned metrics, it comes as no surprise to see that only 53% of their share float is held by institutional investors.
However, some investors may find ELVT appropriate to their portfolio & risk strategies.
Elevate Credit Inc. ELVT Stock As A Short-Term Trade Using Options
Traders can catch ELVT’s current momentum while hedging against risk by trading options.
I am looking at the contracts with the 11/19 expiration date.
The $2.50 calls are in-the-money & the $5 may also be worth looking at if you think that they will break above the $4.26 level fast in order to make some additional profit.
Both have open interest of just below or over 1,000 contracts, so they are liquid enough to make quick plays with.
The $5 puts are the only liquid option that is reasonable as the $7.50’s show no open interest, and it is highly unlikely anyone will be writing those contracts at this point in time.
Tying It All Together
All-in-all, traders & investors may be interested in the gains that ELVT has to offer.
As an investment, their fundamentals are shaky, but they may fit in some investors’ strategies pending further research.
In the near-term, their current momentum looks healthy & set to continue climbing for a bit.
ELVT stock is worth taking a closer look at to see if it is right for your strategy.
*** I DO NOT OWN SHARES OF ELVT STOCK ***