e.l.f. Beauty (ELF) has had a rocky experience since going public in September 2016 (see chart below). We don't have enough data points to create a 200-day moving average line but the shorter 50-day moving average is pointed down. Buyers have appeared three times when prices touched $24/share but we have a series of lower highs in place since late November.
The daily On-Balance-Volume line shot up sharply at the end of March but has given back much of that aggressive buying. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line in bearish territory but looks like it is crossing to a cover shorts buy signal.
Bottom line: It will take a rally above $29 to get me excited about the long side and a close below $24 will keep me on the defensive.